Short title:
Zimbabwe Iron and Steel (Debt Assumption) Act, 10 2018
This Ministry of Finance and Economic Development Bill was gazetted on 19th January but has not yet been introduced in Parliament/had its First Reading. The Bill provides for the State to assume the debts of the Company subject to validation and reconciliation processes. The aim is to clear the balance sheet of the company, thereby paving the way for investors to start on a clean slate. The debts concerned are those incurred before 1st January 2017 as listed in the Schedule to the Bill, which shows a grand total of $219 113 219. The process will be managed under the Public Debt Management Act by the Ministry’s Debt Management Office – like the process for the assumption by the State of certain of the Reserve Bank’s debts.
Long title:
Zimbabwe Iron and Steel (Debt Assumption) Act, 10 2018
Year of Bill:
2018
Number of Bill:
10
Date introduced:
19 January 2018
Sponsor of Bill:
19 January 2018
