Farmers were told government had tried, and failed, to raise the compensation money on the international markets.
White Zimbabwe farmers, whose land was seized by the government and war veterans in the 2000s, have been told the government has no money to pay the agreed $3.5 billion compensation. The compensation deal was struck in July 2020 and the amount agreed related only to improvements the farmers made to the land.
The land itself was supposed to have been paid for by the British government on a “willing buyer, willing seller basis” as part of the historic independence settlement at the end of 1979, which brought about the end of white rule in the country.
Despite improving exports, especially of gold and other minerals, the Zimbabwe government remains broke and struggles to pay its civil servants even basic salaries. He likened the bonds to similar financial instruments issued after the collapse of the Soviet Union in the 1990s, which took some years, but eventually gained credibility and a value in the global market.
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