WASHINGTON D.C. The Executive Board of the International Monetary Fund (IMF) approved today, on a lapse of time basis, the removal of the remedial measures applied to Zimbabwe.
Among the measures that had been set includes the declaration of noncooperation with the IMF, the suspension of technical assistance (which had already been partially lifted), and the removal of Zimbabwe from the list of PRGT-eligible countries.
This follows Zimbabwe’s full settlement of all of its overdue financial obligations to the PRGT of SDR 78.3 million (about US$107.9 million) on October 20, 2016 . Zimbabwe had been in continuous arrears to the PRGT since February 2001 and was the only case of protracted arrears to the PRGT. Zimbabwe is now current on all of its financial obligations to the IMF.
Zimbabwe had been in continuous arrears to the PRGT since February 2001 and was the only case of protracted arrears to the PRGT. Zimbabwe is now current on all of its financial obligations to the IMF.
IMF wants Zimbabwe to resolve its 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 implement strong fiscal adjustment and structural reforms to restore fiscal and debt sustainability and foster private sector development.