Zimbabwe reportedly owes other international money lenders like the World Bank, African Development, European Investment Bank and other bilateral creditors that is why it was left out of the IMF COVID-19 Debt relief, The Herald reports.
This was revealed by a source at the Zimbabwe IMF office on condition of anonymity who said Zimbabwe doesn’t qualify for such debt relief programs because of its other debts. The source further added:
This is as far as traditional channels are concerned. We are looking if there are other ways/other funds, but it’s not promising
Zimbabwe was being blocked at the bilateral level where Washington will not allow a restructuring of an unspecified debt owed by Zimbabwe.
Meanwhile, as confirmed by the Finance Minister Mthuli Ncube, Zimbabwe cleared its debt to the IMF in October 2016.
More: The Herald