Sweden has recognised Zimbabwe’s improving economic conditions, raising hopes of increased foreign investment.
Swedish Ambassador to Zimbabwe Per Lindgärde highlighted the progress during a meeting in Harare on Friday. He met Vice President General (Rtd) Dr Constantino Chiwenga to discuss relations between the two countries.
Lindgärde pointed to declining inflation and improved macroeconomic stability as encouraging signs. He also stressed the importance of resolving Zimbabwe’s outstanding debts to international financial institutions.
Sweden Highlights Zimbabwe’s Economic Recovery
The Swedish diplomat believes continued economic improvements could strengthen Zimbabwe’s recovery. Furthermore, clearing external arrears could unlock access to affordable international financing.
He explained that an International Monetary Fund programme could provide crucial support. Such financing could help Zimbabwe develop infrastructure and accelerate industrialisation.
“I think we see positive developments happening in Zimbabwe in the economic sector. There is much more macroeconomic stability in the country since I came three years ago. We have seen that inflation is coming down. You have now single-digit numbers. I think it was 2.9% inflation in August. And that is something you haven’t had for many, many years. So I think you are moving in the right direction on the economic side. And that is also important for the arrears clearance process. Because I think that if the arrears to the multilateral organisations could be cleared, and that you eventually could get an IMF programme with concessional loans, that will help develop the country even further when it comes to building the infrastructure, which will be crucial for the industrialisation of the country,” Ambassador Lindgärde said.
His comments come as Zimbabwe continues pursuing its international re-engagement and economic recovery agenda.
Sweden Promises Continued Cooperation Despite Embassy Closure
Meanwhile, Sweden is preparing to shut down its diplomatic mission in Zimbabwe. The decision forms part of a wider restructuring affecting its diplomatic presence worldwide.
Four other African countries will also experience similar changes. However, Stockholm has assured Zimbabwe that the embassy closure will not end bilateral cooperation.
Swedish development assistance will continue through regional and thematic programmes. These initiatives will maintain support for areas including child protection and gender empowerment.
Lindgärde also highlighted ongoing cooperation between Swedish institutions and Zimbabwean authorities.
“There will be other streams of support coming to Zimbabwe from regional strategies, from thematic strategies. So there will be, for example, some support from some civil society organisations. And also cooperation between different authorities will continue. Like the Swedish Public Health Agency, they are on their way to signing an MOU with the Ministry of Health. So that cooperation will continue,” Ambassador Lindgärde said.
He believes Zimbabwe’s improving economic conditions could strengthen international confidence. Moreover, sustained progress could improve the country’s chances of attracting foreign direct investment.
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