Chinamasa drops Bond Note Bombshell
The government will on Friday gazette the ZISCO Debt Assumption Bill paving way for a new investor to inject fresh capital ahead of reopening in March.
Responding to questions from the business community on Wednesday, the Minister of Finance and Economic Planning Cde Patrick Chinamasa said the bill will enable the Chinese investor to operate on a fresh and clean balance sheet.
Minister Chinamasa also says the economy is expected to register average economic growth rates of eight percent in the next 10 years.
Asked on the bond notes, Cde Chinamasa says there are no plans to remove them yet saying they will only be phased out when foreign exchange reserves increase to three months cover.
The government is focusing on economic and business confidence with revival of ZISCO being a key priority.