IMF and diamonds


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The International Monetary Fund wants Finance Minister Tendai Biti to handle all diamond transactions so that Zimbabwe can use the revenue to repay part of its external debt totalling $7.1 billion, reports said today. This would, however, require an amendment to the Zimbabwe Mining Development Corporation Act as the ZMDC is presently mining and selling the diamonds.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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