Zimbabwe denies having liquidated its debt with AfDB
Zimbabwe denies having liquidated its debt with AfDBBy Kingsley kaswende in Harare
Friday May 16, 2008 [04:00]
ZIMBABWE has denied having liquidated its debt with the African Development Bank (AfDB) as claimed by the bank. A press statement pasted on the AfDB website indicated that Zimbabwe last month repaid US $700,000 it owes the bank despite its internal problems.
"In a bid to actively reconnect with international donors, the Zimbabwean government last month paid part of its arrears to the African Development Bank (AfDB) Group," the statement reads. "On April 14, 2008, the country paid US$ 500,000 to the African Development Bank and US$200,000 to the African Development Fund.
Zimbabwe has, in all, paid US$ 700,000 to the Bank Group despite numerous economic challenges currently facing the country, both globally and locally. According to Mr. Abdirrahmene Beileh, AfDB acting director in charge of southern African countries, 'Zimbabwe is still owing the Bank large amounts of money in arrears'."
But Reserve Bank of Zimbabwe (RBZ) governor Dr Gideon Gono denied having repaid AfDB, saying Zimbabwe still owed the bank.
“...As the country's central bank and custodian of government's foreign exchange receipts and payments, we wish to categorically state that to our knowledge, there has not been any such payment,” Gono stated yesterday.
He said Zimbabwe only made such a "surprise payment" to the IMF in the 2004/2005 financial year.
"If the country had such resources, the Reserve Bank would have prioritised the importation of grain (maize and wheat); the importation of fuel, electricity, medical drugs, industrial chemicals, fertilisers, seeds, water treatment chemicals, agricultural equipment, and other infrastructural development essentials, and of course leaving some for debt service," stated Gono.
Labels: ADB, DEBT, GIDEON GONO, ZIMBABWE
posted by MrK @ 4:05 AM
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