The Finance Minister Mthuli Ncube has explained why Zimbabwe was left out in the IMF COVId-19 debt relief and said the relief was for countries that owe the IMF and Zimbabwe does not owe the IMF and wasn’t supposed to benefit, The Herald reports.
Speaking to the publication the fundi responded to the question why Zimbabwe was left out and said the decision was not political. Said Professor Ncube:
Zimbabwe does not owe money to the IMF as we paid off loans with the world body.The support was mainly for countries that owe the IMF and are receiving relief on payments to the body in order to support the Covid-19 response
It is nothing political, but just something technical emanating from the fact that we cleared what we owed to the IMF
However, a source from the IMF said Zimbabwe does not qualify because it owes the World Bank, The African Development, European Investment Bank and other bilateral creditors.
More: The Herald