Despite paying off IMF arrears, Zimbabwe will not get any credit until it clears all debts

Minister of Finance, Patrick Chinamasa has revealed that Zimbabwe will not get any funding from international lending institutions, despite paying off IMF debt, until it clears all debts due to the pari passu rule.

The pari passu rule states that all creditors are equal and should be paid back at the same pace or to the same degree without bias or preference.

Responding to MDC Shadow Finance Minister Tapiwa Mashakada, Chinamasa said

No, we are not getting anything yet because the pari passu rule requires us to settle all the arrears with the AfDB and World Bank.

More: Newsday

Back to top

Write a Comment

Your email address will not be published.


RSS Recent Profiles Created

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.