Section 300: Limits of State borrowings, public debt and State guarantees

(1) An Act of Parliament must set limits on—

    (a) borrowings by the State;

    (b) the public debt; and

    (c) debts and obligations whose payment or repayment is guaranteed by the State; and those limits must not be exceeded without the authority of the National Assembly.

(2) An Act of Parliament must prescribe terms and conditions under which the Government may guarantee loans.

(3) Within sixty days after the Government has concluded a loan agreement or guarantee, the Minister responsible for finance must cause its terms to be published in the Gazette.

(4) The Minister responsible for finance must—

    (a) at least twice a year, report to Parliament on the performance of—

          (i) loans raised by the State; and

          (ii) loans guaranteed by the State;

    (b) at the same time as the estimates of revenue and expenditure are laid before the

National Assembly in terms of section 305, table in Parliament a comprehensive

statement of the public debt of Zimbabwe.