The United Kingdom and France have stepped in to support Zimbabwe’s efforts to resolve a long-running debt crisis after agreeing to co-chair a newly established Debt Consultative Group (DCG) under the country’s Structured Dialogue Platform. The initiative aims to address Zimbabwe’s estimated US$2.7 billion in debt arrears and create a framework for restructuring the country’s obligations, a move the government says could help restore confidence among international lenders and development partners. Zimbabwe’s Finance, Investment Promotion and Economic Development Ministry described the creation

The United Kingdom and France have stepped in to support Zimbabwe’s efforts to resolve a long-running debt crisis after agreeing to co-chair a newly established Debt Consultative Group (DCG) under the country’s Structured Dialogue Platform.

The initiative aims to address Zimbabwe’s estimated US$2.7 billion in debt arrears and create a framework for restructuring the country’s obligations, a move the government says could help restore confidence among international lenders and development partners.

Zimbabwe’s Finance, Investment Promotion and Economic Development Ministry described the creation of the DCG as a major step toward rebuilding financial stability and improving access to international financing.

The group will coordinate discussions with creditors, support the implementation of the International Monetary Fund (IMF) Staff-Monitored Programme, and advance Zimbabwe’s debt restructuring roadmap.

For years, Zimbabwe has struggled with limited access to international financing due to unresolved arrears with global financial institutions and other creditors. The government has identified debt clearance as a key priority to unlock funding for infrastructure development, industrial growth and economic recovery.

The involvement of Britain and France, two major European economies with historical and financial links to Zimbabwe, is expected to strengthen negotiations between Harare and its international partners.

Zimbabwean authorities said restoring normal financial relations with external creditors is essential for securing affordable long-term financing needed to support economic transformation.

“The progress made under the Structured Dialogue Platform reflects the commitment of Zimbabwe and its international partners to finding a durable solution through constructive engagement and economic reforms,” the Finance Ministry said.

The Debt Consultative Group is expected to hold its first meeting in August 2026, bringing together key stakeholders involved in Zimbabwe’s debt resolution process.

Economic analysts say successful debt restructuring could mark an important turning point for Zimbabwe by improving investor confidence, reducing financial pressure and creating opportunities for renewed economic growth. However, they note that continued reforms, transparency and stable economic policies will remain critical to achieving long-term recovery.

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