Zimbabwe Needs US$350 million to Clear Foreign Payments Backlog: Central Bank Governor Mangudya

(Bloomberg) — Central bank confident amount will be cleared due to start of tobacco-selling season, Governor John Mangudya tells reporters in capital, Harare.

• Mangudya says govt won’t default in settling $2.1b of T-bills on the market
• Debt “held by banks will not affect the soundness of the banking sector as we are of the view the government will continue to pay the interest and principal on the Treasury bills”