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Record Zimbabwe debts to Equatorial Guinea

President Teodoro Obiang Nguema of Equatorial Guinea
President Teodoro Obiang Nguema of Equatorial Guinea has lent over US$ 200 million to Zimbabwe
© Gob. de GE/afrol News

afrol News, 7 January – Equatorial Guinea has emerged as one of Zimbabwe’s main creditors following massive unpaid oil deliveries since the surrender of coup plotter Simon Mann from Harare to Malabo in 2008.

As the Reserve Bank of Zimbabwe at the end of the year announced its need for refinancing, the extent of the bank’s debts was publicly known. Out of a total unsustainable debt of US$ 1.2 billion, the Bank owed some US$ 222 million to Equatorial Guinea, which turned out to be its greatest creditor.

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