The Southern African Development Community (SADC) has thrown its full support behind Zimbabwe’s debt resolution initiative, declaring it a regional priority with significant implications for economic integration and trade across southern Africa.
Speaking on Tuesday on the sidelines of the 2025 IMF/World Bank Group Spring Meetings in Washington DC, SADC executive secretary Elias Magosi said resolving Zimbabwe’s debt crisis is critical not only for the country itself but for the broader region’s stability and development.
“Addressing Zimbabwe’s economic challenges is not just a national concern but a regional priority,” Magosi said during a high-level roundtable session.
“The success of the country’s economic transition will have far-reaching benefits across the SADC region, strengthening trade, infrastructure, and integration efforts.”
Zimbabwe’s debt resolution initiative, led by former Mozambican President Joaquim Chissano as facilitator and championed by African Development Bank (AfDB) President Akinwumi Adesina, seeks to clear the country’s longstanding arrears and re-engage international creditors.
The initiative forms part of a broader economic reform and recovery agenda aimed at restoring fiscal sustainability and stimulating growth.
Zimbabwe has struggled with mounting debts since the early 2000s when it began defaulting on international loans.
The crisis, compounded by a series of economic missteps and governance issues, was further exacerbated by sanctions imposed by Western nations in response to alleged human rights violations and electoral irregularities.
These sanctions, targeting individuals and institutions, have been a point of contention in the region, with SADC annually calling for their unconditional removal.
“Each year in October, SADC reiterates its call for the lifting of sanctions on Zimbabwean individuals and institutions,” Magosi said.
Magosi underscored Zimbabwe’s strategic significance within the region, noting its position along three of SADC’s six main transport corridors – the North-South, Beira and Maputo corridors – which collectively handle over 60 percent of SADC’s trade volumes.
He also highlighted Zimbabwe’s role in regional ICT connectivity and energy trade, serving as a key link in SADC’s Borderless Network and hosting the Southern African Power Pool Coordination Centre.
SADC welcomed the willingness of international creditors and development partners to engage in meaningful dialogue and encouraged all parties to continue working toward a sustainable solution.
“Face-to-face dialogue fosters understanding, facilitates consensus and enables the development of solutions that not only enjoys the support of most, if not all parties, but also stand to benefit the majority of stakeholders,” Magosi added.
