(HERALD) IMF ready to assist Zim: Minister
IMF ready to assist Zim: MinisterBusiness Reporters
THE International Monetary Fund has said it is ready to assist Zimbabwe rebuild the economy with a Cabinet minister describing meetings held yesterday as positive.
A team from the Bretton Woods institution jetted into the country for a two-week Article IV consultative process which ends on March 24.
The purpose of the mission is to review Zimbabwe’s economic situation, an indication of its desire to re-establish normal relations with Zimbabwe.
Yesterday the team held meetings with the Reserve Bank of Zimbabwe, the Ministry of Finance and the Ministry of Economic Planning and Investment Promotion.
In an interview last night, Economic Planning Minister Elton Mangoma said the IMF had expressed willingness to "immediately" assist Harare "to start things happening".
"The meeting was positive,’" said Minister Mangoma, adding, "they have told us that they are willing to immediately assist us."
A financial package for Zimbabwe would be discussed next month.
Minister Mangoma said the IMF was also keen to provide manpower in the economic planning ministry, particularly in the areas of recording and accounting.
He added that among the delegation were experts in the electricity and water sectors to give Zimbabwe "practical aid".
The IMF was last here in 2006.
Zimbabwe has recently been hit by what could be the worst cholera outbreak in the region which has claimed more than 3 000 lives, according to World Health Organisation statistics.
Erratic power supplies have also resulted in households and local industry going for hours or sometimes days without electricity.
Minister Mangoma said the IMF visit was a good omen for the country that is seeking to re-engage the international community in its reconstruction process.
The visit by the IMF is seen as an expression of warming relations between Zimbabwe and the Bretton Woods institution, which last extended balance of payments support to this country in 1999.
The last few years have seen the country clearing its debt under the General Resources Account while it still owes about US$119 million under the fund’s Poverty Reduction and Growth Facility.
Under normal circumstances, Zimbabwe should be eligible for financial assistance from the IMF, particularly after settling arrears under the General Resources Account.
Last week, IMF managing director Mr Dominique Strauss-Kahn spoke to South African Finance Minister Trevor Manuel on the prospects of resuming relations with Zimbabwe and help arrest economic decline.
Head of the fund’s Africa department Ms Antoinette Sayeh said the IMF would, during the meetings, assess whether it would chip in with assistance, along with other international financiers.
Labels: IMF
posted by MrK @ 5:17 PM
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