Libyan Foreign Bank Files for US$ 100 Million Lawsuit Against Zimbabwean Entities for a 2001 Debt

Central Bank of Libya sues Zimbabwe to recover US$100m owed from 2001 credit facility

LONDON - Libyan Foreign Bank (LFB) a unit of the Central Bank of Libya is suing Zimbabwe's Ministry of Finance in the UK to recover US$100m that arose from a US$90m credit facility used by the National Oil Company of Zimbabwe (NOCZIM) in 2001. The post Central Bank of Libya sues Zimbabwe to recover US$100m owed from 2001 credit facility appeared first on Nehanda Radio.

Libyan Foreign Bank files for US$ 100 million lawsuit against Zimbabwean entities for a 2001 debt

Bloomberg reported last Wednesday (28 January) that the Libyan Foreign Bank (LFB), a subsidiary of the Central Bank of Libya, has filed a lawsuit against Zimbabwe’s Minister of Finance (a guarantor for the debt) and a Zimbabwean state-owned fuel distribution company, seeking repayment of debts exceeding US$ 100 million. The report states that the lawsuit […] The post Libyan Foreign Bank files for US$ 100 million lawsuit against Zimbabwean entiti…

Zimbabwe's Debt Deepens as Libya Seeks $100M

Libya has reportedly requested $100 million from Zimbabwe. This request highlights Zimbabwe’s ongoing and deepening debt disputes. The report comes amidst increasing economic pressures on Zimbabwe. The development underscores the complexities of international financial relations within Africa. Zimbabwe is grappling with significant national debt, a persistent challenge impacting its economic stability and international standing. The recent repor…