Afran : Zimbabwe asks IMF to release funds for agricultural inputs
on 2009/11/29 9:40:16
Afran

HARARE, Nov. 27 (Xinhua) -- Zimbabwe's Finance Minister Tendai Biti has written to IMF asking the international institution to urgently release 50 million U.S. dollars of the over 500 million dollars allocation to Zimbabwe to buy agricultural inputs for the current cropping season, The Herald reported on Friday.

Biti has also outlined how he wants the rest of the money used; a formula similar to that proposed by Reserve Bank of Zimbabwe Governor Gideon Gono about two months ago.

The IMF in August allocated Zimbabwe 510 million dollars as part of the institution's efforts to assist member-states weather the global financial crisis that was triggered by a credit crunch in the United States last year.

However, the money was frozen in an IMF account after Minister Biti instructed the organisation not to release any money in what was widely viewed as a personal battle with Gono.

On Nov. 25, Biti wrote to the IMF saying the money should now be released for the purchase of inputs, though government sources said the action is "too little too late".

Biti said the money would only be allocated in the Budget but this past month suddenly saw the urgency of financing inputs procurement when many farmers have already lost hope of getting meaningful yields from the summer season.

Government sources said on Thursday that there has been a sustained and growing campaign to make Minister Biti realise the urgency of the matter.

The sources said the provision of inputs had occupied centre stage in Tuesday's Cabinet meeting after which Minister Biti dispatched the second letter to the IMF.?

Previous article - Next article Printer Friendly Page Send this Story to a Friend Create a PDF from the article


Other articles
2023/7/22 15:36:35 - Uncertainty looms as negotiations on the US-Kenya trade agreement proceeds without a timetable
2023/7/22 13:48:23 - 40 More Countries Want to Join BRICS, Says South Africa
2023/7/18 13:25:04 - South Africa’s Putin problem just got a lot more messy
2023/7/18 13:17:58 - Too Much Noise Over Russia’s Influence In Africa – OpEd
2023/7/18 11:15:08 - Lagos now most expensive state in Nigeria
2023/7/18 10:43:40 - Nigeria Customs Intercepts Arms, Ammunition From US
2023/7/17 16:07:56 - Minister Eli Cohen: Nairobi visit has regional and strategic importance
2023/7/17 16:01:56 - Ruto Outlines Roadmap for Africa to Rival First World Countries
2023/7/17 15:47:30 - African heads of state arrive in Kenya for key meeting
2023/7/12 15:51:54 - Kenya, Iran sign five MoUs as Ruto rolls out red carpet for Raisi
2023/7/12 15:46:35 - Ambassador-at-Large for Global Women’s Issues Gupta Travels to Kenya and Rwanda
2023/7/2 14:57:52 - We Will Protect Water Catchments
2023/7/2 14:53:49 - Kenya records slight improvement in global peace ranking
2023/7/2 13:33:37 - South Sudan, South Africa forge joint efforts for peace in Sudan
2023/7/2 12:08:02 - Tinubu Ready To Assume Leadership Role In Africa
2023/7/2 10:50:34 - CDP ranks Nigeria, others low in zero-emission race
2023/6/19 15:30:00 - South Africa's Ramaphosa tells Putin Ukraine war must end
2023/6/17 15:30:20 - World Bank approves Sh45bn for Kenya Urban Programme
2023/6/17 15:25:47 - Sudan's military govt rejects Kenyan President Ruto as chief peace negotiatorThe Sudanese military government of Abdel Fattah al-Burhan has rejected Kenyan President William Ruto's leadership of the "Troika on Sudan."
2023/6/17 15:21:15 - Kenya Sells Record 2.2m Tonnes of Carbon Credits to Saudi Firms

The comments are owned by the author. We aren't responsible for their content.