Bretton Woods Project - Critical voices on the World Bank and IMF

Jump to main content | Jump to sidebar | Jump to navigation menu



IMF-Zimbabwe relations tentatively resume

News|Bretton Woods Project|6 December 2012|update 83|url
print|email |bookmark FacebookTweet thisdel.icio.usDigg!Stumble UponRedditGoogle BookmarksYahoo Buzz

In September the IMF executive board praised Zimbabwe's efforts to repay its debts to the Fund and relaxed restrictions on technical assistance. Despite attempts to re-establish links with multilateral agencies, Zimbabwe still owes $131 million in arrears to the IMF's Poverty Reduction and Growth Trust, which has barred it from receiving new loans since 2001. The IMF board also advised the Zimbabwean government to seek funding for its census, as well as for the upcoming constitutional referendum and presidential elections, rather than further increasing its $400 million budget deficit.

Hopewell Gumbo of the Zimbabwe Coalition on Debt and Development commented, "It is still unfortunate huge amounts of money are being paid to settle Zimbabwe's debt against a crippled and bleeding social services delivery system. Our resources are better used for the betterment of people's livelihoods. A determined audit of Zimbabwe's debt is, in our view, a prerequisite before we can embark on a repayment expedition. We remain skeptical about opening up to an IMF monitored program which will rub salt into wounds incurred under the Economic Structural Adjustment Program of the mid 90s. A real new page for Zimbabwe starts with a fresh debt-free breath."

Published: 6 December 2012 , last edited: 16 September 2013

Viewings since posted: 1515

Articles: 3465

Advanced article search
Search newswire and resources

New website launched

You are now browsing an archive version of the Bretton Woods Project's website. This site has not been updated since September 2013, but may be used for reference material as the nbew site is being developed. However we suggest you look at the new website:
http://www.brettonwoodsproject.org/

Recent briefings & reports

Memorandum to the International Development Committee: Inquiry on the Future of UK Development Cooperation  26 June 2013

The Doing Business review: a test of World Bank leadership 24 June 2013

Climate Investment Funds Monitor 7: April 2013  25 April 2013

Working paper: The private sector and climate change adaptation: International Finance Corporation investments under the Pilot Program for Climate Resilience  24 April 2013

The UK's role in the World Bank and IMF: Department for International Development and HM Treasury  13 March 2013

World Bank on jobs: a "significant departure" or "business as usual"? 13 February 2013

No item found

Latest IFI-related video

The World Bank and human rights abuse in Honduras 7 August, Social Justice Committee of Montreal

Subscribe

Bretton Woods Update, 6 emails/year:
highlights fulltext pdf
Alerts of new web content
Weekly newswire email

Email:


Bretton Woods Project on Facebook


home | subscribe | donate | search | help | contact


validate: | XHTML | CSS | RSS

powered by Action Apps | hosted by GreenNet | Credits