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Meetings with IMF fruitful – Chapfika

Staff Writer

THE Deputy Minister of Finance and Economic Development David Chapfika says the meetings with the International Monetary Fund (IMF) have been fruitful and much learnt about what the country

needs to do to return the economy to normalcy.

Chapfika, a banker and former executive director of the collapsed Universal Merchant Bank (UMB), said while Zimbabwe was trying its best to normalise relations with the Washington-based donor agency, it was proving very difficult to pay up all outstanding debts because the country had other commitments.

“We need to pay for our fuel,” Chapfika said. “We also need to pay for electricity supplies and the importation of food before we can really pay up our dues to the IMF.”

Sources said there was tension between Zimbabwe and the IMF team that had found the going not very rosy in Zimbabwe since jetting into the country last week.

They said government was unhappy about the IMF’s continued investigations into the country’s human rights record and delving into issues dealing with the rule of law and the judiciary as well as press freedom in Zimbabwe.

Economist Tony Hawkins said the relationship with the IMF needed to be boosted because the country needs balance of payments support from the international organisation.

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