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05/30/2004:

"AFRODAD warns Zimbabwe to stay clear of IMF"

The Debt and Development in Africa (AFRODAD) group has warned Zimbabwe to stay clear of the International Monetary Fund (IMF) and other similar global financial institutions whose policies it said impoverished small nations.

In an interview with New Ziana, AFRODAD research and analysis programme officer, Charles Mutasa, said the country was better advised to pursue home-grown economic solutions such as the central bank’s monetary policies than seek renewed ties with the IMF. He said restoring ties between the IMF and Zimbabwe would lead to increased indebtedness, and worsen economic hardships in the country. www.africaonline.co.zw