Banks push government on re-engagement

ZIMBABWEAN banks say the government must speed up plans to pay its debts to creditors and normalise relations with the international community, to reduce the country’s high-risk perception.
The southern African nation, which remains shut out by financiers because of its failure to pay previous debts, is on a re-engagement drive, albeit at a slow pace. This, the Bankers Association of Zimbabwe (BAZ) says has led to the loss of corresponding banking relationships (CBRs) with other lenders. CBRs make it easier for local banks to facilitate international trade in United States dollars.