THE government is a step closer to assuming Air Zimbabwe (AirZim)’s debts, as the struggling airline exits reconstruction, a Cabinet minister has said.
This comes as the embattled flag carrier, which was under reconstruction since 2018, announced that it had successfully negotiated a debt settlement plan with local and foreign creditors.
The airline is saddled with $349 million and US$31,5 million in local and external debts respectively.
“The Bill shall provide for the framework for debt assumption processes and procedures, validation and reconciliation of the liabilities, debt assumption modalities, terms and conditions of the debt settlement plan and recovery plan for the debt paid by government on behalf of the airline,” Information minister Monica Mutsvangwa told journalists after Tuesday’s Cabinet m
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