Republic of Zimbabwe initially joined the Fund on 3 February 1995.[1] It holds a quota of 706.8 million SDRs which translates to 0.17% of the total SDRs.[2]

2005 Loan repayment

In 2005, Zimbabwe made a mystery loan repayment of US$120 million to the International Monetary Fund due to expulsion threat from IMF.[3][4][5]

Zimbabwe in 2005 was economically torn down, in the midst of serious economic crisis; collapsing currency, de-investment, hunger and droughts, shortages of critical food supplies among others. This dates back to 1990s and early 2000s crisis and Zimbabwe's involvement in the war of Congo. Zimbabwe took a credit from IMF and went to war in Congo.

References

  1. ↑ "IMF -- Resident Representative Office in Zimbabwe". IMF. Retrieved 2024-01-01.
  2. ↑ https://www.imf.org/-/media/Files/Countries/ResRep/ZWE/201905-zimbabwe-and-the-imf-presentation-feb-2019.ashx
  3. ↑ "Zimbabwe: Mugabe pays IMF - Zimbabwe | ReliefWeb". reliefweb.int. 2005-09-01. Retrieved 2023-12-29.
  4. ↑ "Zimbabwe makes $120M payment to IMF | Devex". www.devex.com. Retrieved 2023-12-29.
  5. ↑ "Zimbabwe Makes $120 Million Payment to I.M.F." The New York Times. 2005-09-01. ISSN 0362-4331. Retrieved 2023-12-29.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.