As the country continues making good progress in clearing outstanding foreign debts, teams from the International Monetary Fund (IMF) and the African Development Bank (ADB)  are in Zimbabwe on a re-engagement mission.

The re-engagement  talks involving Zimbabwe, IMF and the ADB which started on Thursday are aimed at ensuring the country benefits from multilateral financiers through loans.

Officials conversant with the ongoing closed door discussions in the capital told the ZBC News, the IMF and ADB representatives are holding meetings with the Reserve Bank of Zimbabwe Governor Dr John Mangudya, the Minister of Finance and Economic Development Cde Patrick Chinamasa, economic decision makers, and business organisations.

Some of the issues under spotlight include debt reduction strategies, economic growth projections, industry revival policies and state of the banking sector among others.

While the IMF and ADB representatives will issue a statement next week about the outcome of their meetings, it has also emerged that the restoration of credit lines is another issue under discussion.

Zimbabwe was in October last year removed from the IMF sanctions after successfully clearing outstanding debts.

Market watchers say Zimbabwe’s good progress in clearing external arrears to international financiers is important in reducing the country’s risk and attracting foreign direct investment whose value is currently hovering at US$500 million per year.

The country’s huge external debt overhang has seen Zimbabwe also lagging behind other regional and global trading partners in terms of annual economic growth rates.