By Aldridge Dzvene
HARARE – The Government of Zimbabwe has launched the Zimbabwe Arrears Clearance Dialogue Enhancement Project (ZACDEP), a US$4 million (UA3 million) programme designed to accelerate the country’s arrears clearance and debt resolution process while strengthening governance, institutional capacity and engagement with international creditors.
Supported by the African Development Bank (AfDB), the three-year initiative is expected to become a key pillar in Zimbabwe’s economic reform agenda by reinforcing the country’s debt resolution roadmap and supporting efforts to restore macroeconomic stability, unlock development financing and attract long-term investment.
The launch of ZACDEP comes as Zimbabwe continues pursuing comprehensive reforms aimed at normalising relations with international financial institutions and development partners after years of debt-related constraints that have limited access to concessional financing.
The project will strengthen public debt management systems, improve governance and oversight mechanisms, and facilitate structured dialogue between Government, creditors, development partners and civil society. It will also build institutional capacity in areas such as debt management, land tenure reforms and anti-corruption frameworks, all of which have been identified as critical pillars of Zimbabwe’s arrears clearance process.
Beyond debt management, ZACDEP is expected to reinforce policy credibility by strengthening institutions responsible for implementing reforms and ensuring greater transparency and accountability in public financial management.
The initiative aligns with Vision 2030, which seeks to transform Zimbabwe into an upper-middle-income economy, and the National Development Strategy 2 (NDS2), where macroeconomic stability, governance reforms and international re-engagement remain central priorities.
Economists have consistently argued that resolving Zimbabwe’s external debt challenge is essential for restoring access to affordable international credit, attracting foreign direct investment and reducing the cost of financing critical infrastructure and social development programmes.
Successful implementation of the project is also expected to improve investor confidence by demonstrating Government’s commitment to governance reforms and prudent fiscal management while strengthening Zimbabwe’s engagement with international financial institutions.
Officials say achieving these objectives will require coordinated implementation across Government ministries, development partners, creditors and civil society to ensure that reforms translate into measurable progress.
If successfully executed, ZACDEP is expected to ease Zimbabwe’s debt burden, strengthen institutional governance, improve policy credibility and create conditions for sustainable economic recovery, increased investment and deeper integration into regional and global financial markets
