IMF Debt Relief – Why Was Zimbabwe Excluded?
14 April 2020
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IMF debt relief, why was Zimbabwe excluded, is this because of sanctions?

Kristalina Georgieva

Yesterday the IMF announced debt relief for 25 countries and Zimbabwe was excluded. Those who have obtained it are: Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, D.R., The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo, and Yemen.

We have been in touch with the IMF, an official position will be published in about 6 hrs on ZimEye- so far the indications are that:

  • there are only 25 countries
  • the 25 are the ones who may have expressed interest, Zimbabwe likely did not bother to ask for assistance.
  • IMF officer to respond by end of day today.

Meanwhile, below is the full IMF press statement:

Washington, DC – Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) issued the following statement:

“Today, I am pleased to say that our Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.

“This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months and will help them channel more of their scarce financial resources towards vital emergency medical and other relief efforts.

“The CCRT can currently provide about US$500 million in grant-based debt service relief, including the recent US$185 million pledge by the U.K. and US$100 million provided by Japan as immediately available resources. Others, including China and the Netherlands, are also stepping forward with important contributions. I urge other donors to help us replenish the Trust’s resources and boost further our ability to provide additional debt service relief for a full two years to our poorest member countries.”

The countries that will receive debt service relief today are: Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, D.R., The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo, and Yemen.