Zimbabwe must settle debt says IMF

HARARE – The International Monetary Fund (IMF), which is dispatching a mission to Harare next week, has ruled out giving any financial assistance to Zimbabwe until all external debts are settled.

The IMF is expected in the country from August 31st to September 11th to undertake the second review of the Staff Monitored Programme (SMP).

Last year the IMF agreed to a successor SMP — an informal agreement between country authorities and the global lender designed to monitor the implementation of the authorities’ economic programme — to help the country get out of the woods.

Finance Minister Patrick Chinamasa has for years been requesting for fresh funds from the IMF so the country can clear its external debt and move forward.

Government insiders say the economic situation is now worsening.

IMF resident representative to Zimbabwe, Christian Beddies, told VOA Studio 7 that engagement with Harare is continuing. – VOA