The World Bank is expected to engage government in strategising a debt repayment plan, a move that will set the tone for fresh capital injection to Zimbabwe.The World Bankâ€™s move which signals a shift in its policies on Zimbabwe is being made when the nationâ€™s homegrown economic policies have lead to increased productivity, with agriculture and mining contributing huge earnings.
The World Bankâ€™s director for global centre on conflict and security development, Mr. Joel Hellman said in an interview with ZBC News in Harare that the institution is happy with Zimbabweâ€™s economic performance and plans are in progress to come up with a favourable debt repayment plan on outstanding arrears currently hovering at around US$2 billion.
â€œWe hope this move will go a long way in addressing the economic challenges affecting Zimbabwe,â€ said Mr Hellman.
The World Bank has been criticised by economic observers for its policies such as the Structural Adjustment Programmes (SAPs) of the early 90â€™s which lead to the collapse of developing economies.
Economic experts are questioning the credibility of the bankâ€™s willingness to restore normal relations yet its policies have stringent conditions determined by the western economies.