Zimbabwe has finally settled its 16 year old International Monetary Fund (IMF) debt of US$107.9m.

Zimbabwe has finally settled its 16 year old International Monetary Fund (IMF) debt of US$107.9m.

Zimbabwe has finally settled its 16 year old International Monetary Fund (IMF) debt of US$107.9m.   In the biggest surprise to the whole world, the broke Mugabe’s Zanu PF regime of Zimbabwe has finally paid off its 16-year debt to the International Monetary Fund (IMF) as part of its arrears clearance strategy with multilateral institutions whom it owed.   The International Monetary Fund (IMF) director of communications Gerry Rice report on Friday, indicated that the…

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‘Mass Donor Suspension After Mozambique Admitted To Hiding US$1,4 billion Debt In Funding Defence ‘

MAPUTO. – Donor nations and institutions that contribute to Mozambique’s state budget have suspended their support over revelations of $1,4 billion in hidden debt, officials said on Wednesday. Portuguese President Marcelo Rebelo de Sousa, representing the donors, announced the move at a press conference in Maputo alongside Mozambican President Filipe Nyusi. De Sousa said it was a “temporary suspension” and not a “final judgement” on the direct contribution to the state budget, estimated at $265m…

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Simon Khaya Moyo Dismisses Opposition Critiscism Of Zim Asset And Challenges Them To Produce Alternative Economic Policies.

  Zanu-PF spokesman Simon Khaya Moyo has dismissed opposition criticism of the ruling party policies challenging them to produce alternative economic policies.   In an exclusive interview with Voice of America, Moyo attacked the opposition for not adding value to national development. “What are they doing themselves, are they not Zimbabweans, they should bring better polices forward.”   Opposition parties have been taking turns to blast the government of President Robert Mugabe for allegedly failing…

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Zimra Revenues Fall As Company Executives Divert Earnings To Individual Accounts

THE Reserve Bank of Zimbabwe (RBZ) yesterday made shocking revelations that company executives were diverting earnings to individual accounts to dodge the tax collector. RBZ governor, John Mangudya’s remarks at the Confederation of Zimbabwe Industries (CZI) meeting to unveil the Manufacturing Sector Survey report for 2015 stunned guests, as it brought to the fore the cat-and-mouse games between companies battling to preserve scant earnings and the Zimbabwe Revenue Authority (ZIMRA) struggling to meet revenue targets….

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Zimbabwe Gvt In Fast Track Preparation For Mass Civil Service Retrechments

Despite public protestations to the contrary, President Robert Mugabe’s cash-strapped government is moving with speed to identify and retrench tens of thousands of civil servants in a bid to contain its ballooning wage bill that is sucking most of its resources, the Daily News on Sunday has established. Finance minister Patrick Chinamasa assured the International Monetary Fund (IMF) last month that the government would implement a raft of measures, including slashing its onerous civil service…

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International Monetary Fund (IMF) Statemment Reveals Mugabe’s Mass Civil Service Cull

International Monetary Fund (IMF) Statemment Reveals Mugabe’s Mass Civil Service Cull

THE International Monetary Fund (IMF) Wednesday issued a statement that effectively sold out President Robert Mugabe’s plan to fire thousands of civil servants. An International Monetary Fund (IMF) mission led by Mr. Domenico Fanizza visited Harare from August 31 to September 11, 2015 to conduct the second review under the 15-month Staff-Monitored Program (SMP) approved by Management in November 2014 (see Press Release No. 14/504). The mission reached a staff level agreement on policies for…

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Give Us Money, To Clear Debt Catch Up With Rest Of Globe’-Chinamasa To World Bank

Give Us Money, To Clear Debt Catch Up With Rest Of Globe’-Chinamasa To World Bank

Finance and Economic Development minister Patrick Chinamasa has pleaded for a cash bailout from the World Bank to enable Harare to clear its debts and catch up with the rest of the world.Zimbabwe has an external debt of over $8,4 billion which has hamstrung the country from accessing lines of credit from multilateral and bilateral financial institutions. Speaking at the opening ceremony of new World Bank offices in Harare on Wednesday, Chinamasa said the relocation…

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‘International Monetary Fund (IMF) Rules Out Financial Assistance To Zimbabwe’

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…

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