Staff Reporter
The establishment of a Structured Dialogue Platform (SDP) has made significant progress on economic and governance reforms which are meant to buttress the Arrears Clearance and Debt Resolution process.
According to the Annual Public Debt Bulletin 2022 Financial Year released yesterday, significant progress to clear arrears and debts was promoted by a transparent and inclusive consultative process.
“There has been commendable progress, since the establishment of the SDP in December 2022, with growing consensus and confidence in the process, promoted by a transparent and inclusive consultative process,” reads the bulletin.
The bulletin points out that since the establishment of the SDP, five meetings have been held which focused on three pillars, namely; Economic Reforms, Governance Reforms, and Land Tenure Reforms, Compensation of Former Farm Owners and the Resolution of Bilateral Investment Protection and Promotion Agreements (BIPPAs).
The bulletin further stated that the Government was committed to clearing all its debts through the implementation of the three reforms.
“Government takes full ownership and is committed to the Arrears Clearance and Debt Resolution process, through the implementation of reforms outlined in these three Matrices,” reads the bulletin.
Meanwhile, the Government has developed a roadmap which would be the next step to take as part of the Arrears Clearance and Debt Resolution Roadmap and this includes signing off an IMF Staff Monitored Program (SMP), the conduct of free, fair and peaceful elections in August 2023, combating corruption, draft legislation to provide for transferable and bankable 99-year leases, payment of compensation of former farm owners based on the Global Compensation Deed; and Targeted resolution of BIPPAs.
The SDP was established in December 2022 in line with the Arrears Clearance, Debt Relief and Restructuring Strategy. The SDP comprises of the Government with all its creditors, Development Partners and other stakeholders.
The process is being championed by the President of the African Development Bank, Dr A. Adesina, and supported by the former President of the Republic of Mozambique, Joachim Chissano, who is the High-Level Facilitator of the Structured Dialogue Process, between the Government and international creditors.
