We're not about to fund Zim, says World Bank
09 September 2016, 17:17
Harare - The World Bank has denied media reports
that it is about to resume lending to cash-strapped Zimbabwe.
Widely-circulated reports this week
suggested that the World Bank was working on a bail-out package for Zimbabwe
that could see it handing over 400 million US to President Robert Mugabe's
government starting next year.
The claims elicited howls of protest
from opponents of the 92-year-old leader. A leaked document appeared to show
that the World Bank had ignored the government's unpopular decision to print
its own banknotes and turned a blind eye to recent reports of rights violations
during a wave of anti-government protests.
But now the global lender says the
leaked document the reports were based on was "an unofficial draft
document that has not been approved."
"The World Bank will only resume
direct lending to Zimbabwe when the issue of arrears is resolved," a
statement from them added.
Zimbabwe owes the World Bank 1.1 billion
US, according to the central bank governor John Mangudya.
mid-term fiscal policy review presented by the finance minister Patrick
Chinamasa this week showed the dire straits that troubled Zimbabwe is in
financially. The minister admitted that the wage bill for civil servants ate up
96.8 percent of revenue -- and that the authorities might be unable to meet
that bill by the end of the year.