IMF plays into ZANU-PF’s hands


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The International Monetary Fund’s postponement of a decision on Zimbabwe’s compulsory withdrawal played into the hands of the Zimbabwean government because it was portrayed in the government-owned media as a vote of confidence in the country’s home-grown economic turnaround efforts.

The government was also using the “economic turnaround” as a plank in its 2005 parliamentary election campaign.

 

Full cable:


Viewing cable 05HARARE261, GOZ PORTRAYS IMF DECISION AS “REPRIEVE”

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Reference ID

Created

Released

Classification

Origin

05HARARE261

2005-02-18 09:47

2011-08-30 01:44

CONFIDENTIAL

Embassy Harare

This record is a partial extract of the original cable. The full text of the original cable is not available.

C O N F I D E N T I A L HARARE 000261

 

SIPDIS

 

C O R R E C T E D C O P Y – RECLASS PARA 1,2 AND ADDEES

 

STATE FOR AF/S

USDOC FOR ROBERT TELCHIN

TREASURY FOR OREN WYCHE-SHAW

PASS USTR FLORIZELLE LISER

STATE PASS USAID FOR MARJORIE COPSON

 

E.O. 12958: DECL: 12/13/2014

TAGS: EFIN ETRD PGOV ECON EINV ZI

SUBJECT: GOZ PORTRAYS IMF DECISION AS “REPRIEVE”

 

Classified By: Classified by Ambassador Christopher Dell

under Section 1.4 e/g

 

1. (U) In its lead story on February 18, the GOZ,s daily

Herald newspaper characterized the International Monetary

Fund (IMF),s postponement of a decision on Zimbabwe,s

compulsory withdrawal as “reflect(ing) a vote of confidence

in the country,s home-grown economic turnaround efforts.”

The Herald quoted Reserve Bank Governor Gideon Gono,s as

stating that “we are obviously happy with the outcome.”

 

2. (U) The Herald recalled that Zimbabwe had increased its

arrears payments to the Fund during 2004, reaching US$ 5

million in the last quarter. The article asserted further

that relations between Zimbabwe and the IMF had “thawed over

the past year,” citing IMF Africa Director Abdoulaye

Bio-Tchane,s visit to Zimbabwe in November “as a step

forward in mending relations.” The Herald story did not name

the U.S., U.K. and Canada as opponents of the extension.

 

3. (C) Comment: The GOZ has seized upon the “economic

turnaround” as a plank in its parliamentary election

campaign. In that regard, the IMF decision plays into their

hands.

DELL

(26 VIEWS)

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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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