Published: 05 July 2013

Government plans to reduce its outstanding arrears towards parastatals as well as complete the validation process between line ministries and service providers as part of reforms under the International Monetary Fund supervised programme.

In a recent letter of intent signed by the Minister of Finance Tendai Biti and RBZ governor Gideon Gono, government said resource constraints had placed state-owned enterprises in a complex web of cross arrears.

Both central and local governments owe parastatals and other players in the private sector.

Inter-parastatal debt is currently over $1 billion.
- businessdaily

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