IMF Restores Zimbabwe’s Voting Rights

The International Monetary Fund restores Zimbabwe’s voting rights after seven-year suspension

The International Monetary Fund (IMF) has decided to restore Zimbabwe's voting rights after a seven-year suspension over failure to pay US$1.3 billion it owes the organisation and other creditors.

The decision by the IMF's executive board constitutes a first step toward endorsement of the economic policies of the coalition government formed a little more than a year ago by President Robert Mugabe and long-time rival Prime Minister Morgan Tsvangirai.

The impoverished Southern African nation's economy has improved under the shaky coalition with 4.7 percent expansion of gross domestic product last year but a continuing political impasse makes its future uncertain.

Meanwhile, Zimbabwe has started reducing the US$140 million it owed the Washington-based lending organisation at the end of 2009.

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Source: 
Mail&Guardian

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