Zimbabwe charts ambitious return to global finance at debt conference

Zimbabwe’s president hosted creditors and finance executives on Monday to discuss ambitious goals to clear debt arrears and restructure $12.7 billion in external debt, as the country aims to eventually tap international capital markets for the first time in more than two decades. The Southern African nation’s debt pile accounts for 81% of gross domestic product, and clearing it will be a tough challenge for a country that has faced numerous financial crises in recent decades, from repeated bouts of hyperinflation to multiple unsuccessful attempts to launch new currency regimes.