PRESS STATEMENT ON THE RELEASE OF SDR 677 436 012 BY THE IMF TO ZIMBABWE
We would like to advise the public that Zimbabwe has received SDR 677.4 million (USD961 million) from the International Monetary Fund (IMF) under the IMF’s USD650 Billion SDR allocation earmarked to provide additional liquidity to the global financial system. The funds were deposited in the Reserve Bank of Zimbabwe account with the IMF for value 23 August 2021.
The immediate impact of this support from the IMF is to increase the foreign exchange reserves position of the country by US$961 million. This will go a long way in buttressing the stability of our domestic currency.
The funds will be used prudently, with utmost accountability, to support the social sectors namely health, education, and the vulnerable groups; productive sectors that include industry, agriculture and mining: infrastructure investment covering roads and housing, and foreign currency reserves and contingency fund, to support our domestic currency and macro-economic stability.
We would like to express our great appreciation to the IMF for this disbursement which shall be used transparently in line with the IMF guidance note
Hon Prof. M Ncube Minister of Finance and Economic Development
-Dr J P Mang dya Governor Reserve Bank of Zimbabwe