IATA Says Zimbabwe Owes Airlines $196 Million in Trapped Funds
Emmerson Mnangagwa, Zimbabwe's president, left, speaks during a news conference.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Zimbabwe owes airlines about $196 million that’s stuck in the country due to a shortage of hard currency, according to the International Air Transport Association.
The last payment received by the industry body was in January, regional vice president for IATA in Africa, Muhammad Ali Albakri, said in an interview on Tuesday. The group held a meeting with Zimbabwe President Emmerson Mnangagwa and will now finalize the payment plan, he added.