IMF removes Zimbabwe sanctions but says no new funding without reforms

Posted by Tayana

In a statement on Monday, the International Monetary Fund confirmed the removal of its “remedial measures” against Zimbabwe after the country recently paid its overdue obligations to the organisation.

However, despite the removal of sanctions, the IMF said that it will not be offering any funding to Zimbabwe unless it conform to financial reforms which according to the IMF statement include resolving arrears to multilateral creditors (including the African Development Bank (AfDB), the World Bank, and other multilateral institutions), bilateral official creditors, and external private creditors; and the implementation of strong fiscal adjustment and structural reforms to restore fiscal and debt sustainability and foster private sector development.

More: NewZimbabwe.com



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