{
  "title": "Press Release: IMF Declares Zimbabwe Ineligible to Use IMF Resources",
  "publication": "IMF News, September 25, 2001",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr0140",
  "canonical": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr0140",
  "overlayPath": "/en/news/articles/2015/09/14/01/49/pr0140/index.md",
  "summary": "Press Release No. 01/40 dated September 25, 2001.",
  "publishDate": "2001-09-25",
  "sections": [
    {
      "heading": "Executive Board decision",
      "content": "- Press Release No. 01/40 dated September 25, 2001.\n- On September 24, 2001 the Executive Board of the International Monetary Fund (IMF) reviewed Zimbabwe's overdue financial obligations to the IMF and:\n  - declared Zimbabwe ineligible to use the general resources of the IMF; and\n  - removed Zimbabwe from the list of countries eligible to borrow resources under the Poverty Reduction and Growth Facility (PRGF)."
    },
    {
      "heading": "Overdue obligations and arrears",
      "content": "- Zimbabwe first incurred arrears to the IMF in mid-February 2001.\n- At end-August 2001 Zimbabwe's overdue obligations totaled SDR 41.3 million (about US$53 million), including:\n  - SDR 18.9 million (about US$24 million) to the IMF's General Department; and\n  - SDR 22.3 million (about US$29 million) to the PRGF Trust."
    },
    {
      "heading": "Rationale and remedial framework",
      "content": "- The declaration of ineligibility to use the general resources of the IMF is one of the remedial measures to encourage members to settle overdue financial obligations to the IMF.\n- Removing a country from the list of PRGF-eligible countries is a parallel action when a member has overdue obligations to the PRGF Trust."
    },
    {
      "heading": "Executive Board's requests and assessments",
      "content": "- The Executive Board urged the Zimbabwean authorities to make full and prompt settlement of Zimbabwe's overdue financial obligations to the IMF.\n- The Executive Board acknowledged the authorities' intention to initiate quarterly payments to the IMF as a first step of cooperation, but noted those payments would fall far short of the amount required to stabilize the level of arrears to the IMF.\n- The Executive Board urged the Zimbabwean authorities to adopt the economic and financial policies needed to enable Zimbabwe to achieve economic recovery as soon as possible.\n- The Executive Board indicated that the Fund stood ready to cooperate with the authorities in support of efforts to adopt and implement a comprehensive economic recovery program."
    },
    {
      "heading": "Follow-up",
      "content": "- The Executive Board will review further the matter of Zimbabwe's overdue financial obligations to the Fund within three months.\n\nInternational Monetary Fund press release (September 25, 2001).\n\n---\n\n\n References\n\n- Zimbabwe and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr0140"
    }
  ],
  "bullets": [
    "[Markdown version](/en/news/articles/2015/09/14/01/49/pr0140/index.md)",
    "[Structured JSON version](/en/news/articles/2015/09/14/01/49/pr0140/index.json)",
    "[Bundle manifest](/en/news/articles/2015/09/14/01/49/pr0140/bundle-manifest.json)",
    "Published: September 25, 2001",
    "Press Release No. 01/40 dated September 25, 2001.",
    "On September 24, 2001 the Executive Board of the International Monetary Fund (IMF) reviewed Zimbabwe's overdue financial obligations to the IMF and:",
    "Zimbabwe first incurred arrears to the IMF in mid-February 2001.",
    "At end-August 2001 Zimbabwe's overdue obligations totaled SDR 41.3 million (about US$53 million), including:",
    "The declaration of ineligibility to use the general resources of the IMF is one of the remedial measures to encourage members to settle overdue financial obligations to the IMF.",
    "Removing a country from the list of PRGF-eligible countries is a parallel action when a member has overdue obligations to the PRGF Trust.",
    "The Executive Board urged the Zimbabwean authorities to make full and prompt settlement of Zimbabwe's overdue financial obligations to the IMF.",
    "The Executive Board acknowledged the authorities' intention to initiate quarterly payments to the IMF as a first step of cooperation, but noted those payments would fall far short of the amount required to stabilize the level of arrears to the IMF.",
    "The Executive Board urged the Zimbabwean authorities to adopt the economic and financial policies needed to enable Zimbabwe to achieve economic recovery as soon as possible.",
    "The Executive Board indicated that the Fund stood ready to cooperate with the authorities in support of efforts to adopt and implement a comprehensive economic recovery program.",
    "The Executive Board will review further the matter of Zimbabwe's overdue financial obligations to the Fund within three months.",
    "[Zimbabwe and the IMF](http://www.imf.org/external/country/ZWE/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
  ],
  "alternates": {
    "markdown": "/en/news/articles/2015/09/14/01/49/pr0140/index.md",
    "json": "/en/news/articles/2015/09/14/01/49/pr0140/index.json",
    "bundleManifest": "/en/news/articles/2015/09/14/01/49/pr0140/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-26T15:55:19.412Z"
}