News

Zimbabwe to use diamond sales proceeds to repay debt

Has sold diamonds worth $300 million so far

diamond world news service

Zimbabwe is looking at repaying its debt, through dimaond sales proceeds, reports suggest. The recent announcement by Zimbabwe's Prime Minister Morgan Tsvangirai, reportedly states that the country is considering this measure to part of the country’s external debt totaling $7.1 billion, and also to rehabilitate Zimbabwe's faltering industry. The country’s diamond sales have already touched $300 million.

Zimbabwe’s Finance Minister Tendai Biti is reported to have said, "The resolution of the debt is crucial for us to be integrated in the international community and also the resolution of our political problem." The country's long standing issue of legally allowing sale from the Marange fields stands unresolved, for which country President Robert Mugabe had been working at getting the KP approval, to further boost the country's economy.


Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet

Vast Resources Reclaims Diamonds After 15-Year Dispute, Eyes Zimbabwe Return

Hong Kong Show at Asia World Expo: Quiet Start, But Purposeful Business

PGI Champions Platinum at Jewellery & Gem WORLD Hong Kong 2025

GJC’s 8th India Gem & Jewellery Show Opens with Grand Inauguration

Finestar Diamonds Invests R300 Million in New South African Manufacturing Facility