Stakeholders flag Zimbabwe’s resource-backed loans
Stakeholders have raised concerns about Zimbabwe's practice of using mineral wealth to back loans. They are calling for greater transparency in the publication and explanation of those agreements. Accountability is another central demand, including stronger parliamentary scrutiny of the borrowing terms. Their main question is whether the deals deliver enough public benefit to justify pledging natural resources as security. Some are not convinced that the country's mineral reserves should be used this way when the return to the public is unclear. The concerns focus on governance as much as on the country's need for foreign financing. The intervention was reported by Newsday.
The stakeholders called for greater transparency, accountability and parliamentary scrutiny of loan agreements backed by the country’s mineral wealth, while questioning whether the deals deliver sufficient public benefits to justify use of natural resources as collateral security. The post Stakeholders flag Zimbabwe’s resource-backed loans appeared first on Newsday .