Treasury Bonds to fund 90% of US$3,5bn debt to white farmers

GOVERNMENT will fund its US$3,5 billion debt to white farmers who lost land during the controversial land reform programme mainly through Treasury bonds.

In July 2020, the government announced that it will pay white farmers US$3,5 billion as compensation for the losses incurred as a result of the chaotic “fast track land reform programme” which started in 2000.

The agreement, called the Global Compensation Deed, was entered into between the government and the Commercial Farmers Union of Zimbabwe, an exclusive union for white commercial farmers, ending a long-running battle for compensation by the farmers.

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