SADC to Petition IMF, World Bank to Help Zimbabwe: Biti

HARARE – Southern Africa Development Community (SADC) Finance Ministers will this week present Zimbabwe’s case at the International Monetary Fund and World Bank Spring Meeting in Washington to source funding for the country’s economic turnaround programme

SADC Finance Ministers will this week present Zimbabwe’s case at the International Monetary Fund and World Bank Spring Meeting in Washington to source funding for the country’s economic turnaround programme.

Finance Minister, Tendai Biti said the meeting comes at a crucial time when the government is working on programmes that could increase revenue collection for state coffers.

Minister Biti said he will work with his SADC collegues to present Zimbabwe’s case to the donor community.

SADC recently pledged to help Zimbabwe raise the USd $8.3 billion the government requires to fund the short term emergency recovery programme.

However, the SADC member states say that they cannot raise this amount on their own, and will help Zimbabwe secure support from donors and multilateral financial institutions.

IMF and the WB cut the country’s lines of credit as part of illegal sanctions in the wake of the passage of the United States Sanctions Law, the Zimbabwe Democracy and Economic Recovery Act in 2001. (Newsnet)