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Talks with WB on loan suspension

    JOHANNESBURG
    The World Bank said in a statement on Wednesday that talks are underway with the Zimbabwe government over the Bank’s suspension of a US $140 million loan to support the country’s economic reform programme. A meeting of the Bank’s Board on Thursday to discuss the loan was cancelled. The Bank said “we hope to go to the Board in the near future” after the successful conclusion of talks with the government. The statement said the loan suspension was due to Zimbabwe’s failure to meet financial targets agreed with the International Monetary Fund (IMF). A Zimbabwean government official told IRIN on Wednesday the programme loan was conditional on Zimbabwe meeting the IMF targets, but the Bank was still releasing project financing for specific development schemes.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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