Zimbabwe has made a $2,5-million payment to the International Monetary Fund (IMF) ahead of a visit by the world lending body next week, the finance minister told Agence France-Presse on Wednesday.
”Yes we did the payment,” Finance Minister Herbert Murerwa said.
”When we have made another payment we will let you know, but it is better to talk after the mission has come.”
A five-member IMF delegation is due to arrive in Zimbabwe for a six-day visit on Tuesday.
The IMF has threatened to expel Zimbabwe from its ranks for failing to pay back loans since 2001 and has given the Southern African country until February to settle its accounts.
A finance ministry official said Zimbabwe was planning to clear the balance of $144,3-million by November this year.
”We paid $2,5-million to the International Monetary Fund during week ending 13 January,” the official said.
Central bank spokesperson Kumbirai Nhongo refused to comment, saying the bank was not at liberty to disclose details of its dealings with the country’s creditors.
In October last year central bank governor Gideon Gono promised the IMF that the remainder of Zimbabwe’s debt would be paid in two instalments in February and November this year.
In September last year, Zimbabwe paid a surprise $120-million — more than a third of its outstanding debt — to the IMF following threats of expulsion.
The central bank said that payment came mainly from ”free funds” and export earnings.
It has paid back $148-million since February last year.
Zimbabwe is in the throes of an economic crisis battling chronic foreign currency shortages and a triple-digit inflation.
Given the country’s dire economic straits, last year’s payments prompted speculation and suspicion as to its source, with economists noting that Zimbabwe could not afford to spare hard currency.
The IMF said in October that it would investigate the source of the loan payback and would report on its findings to the executive board in March. – Sapa-AFP