The new president of Zimbabwe decided to save the economy with Eurobonds

“It will be an unprecedented roadshow,” writes Bloomberg: the new president of Zimbabwe, a country with one of the worst economies in the world and millions of percent of hyperinflation, Emmerson Mnangagwa decided to place Eurobonds and thus revive the local economy. There is no information on specific terms and amounts yet, but analysts say that if several conditions are met, the plan can work.

• “This is an ambitious task, but after a change in leadership it is no longer impossible,” said Hasnain Malik, chief equity analyst at Exotix Partners. In November, Mnangwa succeeded 93-year-old Robert Mugabe, who had led the country since 1980, after a coup d'état.
• To attract investors and return to international markets, Mnangagwe needs to solve several problems - to hold fair elections, demonstrate strengthening fiscal discipline, and secure an agreement with the IMF on financial assistance. Until all this is done and credit ratings are assigned to the country, "no one will buy from these guys," said Kevin Daly, investment manager at Aberdeen Standard Investments.
• Nevertheless, Mnangwa is trying: he came to the economic forum in Davos, promised to hold elections with the participation of international observers within five months, and also promises to start the process of introducing a new national currency, increasing reserves of gold and diamonds. According to Mnangwa, it is also a priority for his government to pay off its debts to the IMF - now Zimbabwe is late with payments.
• Under Mugabe, Zimbabwe's economy, which was one of the richest countries in Africa before independence, almost completely collapsed, and has halved since 2000: record hyperinflation in 2008 peaked at 79 billion percent a month . In 2009, Zimbabwe abandoned its own currency, and unemployment there is about 90%. You can read more about what is happening in the country here .

What do I get from this?

The picture, familiar to any Russian over 30, is that the new leadership of the country, who came to power after the fall of the dictatorship, travels to Davos to advertise the new democracy and asks for debt deferrals from the IMF. It doesn't matter that Mnangagwa was one of Mugabe's closest associates and earned the nickname "Crocodile" for a reason.

Artem Gubenko, The Bell