Foreign and Commonwealth Affairs written question – answered at on 28 June 2004.
To ask the Secretary of State for Foreign and Commonwealth Affairs if he will make a statement on his Department's policy with regard to Zimbabwe's membership of the (a) International Monetary Fund, (b) World Bank and (c) African Development Bank.
The Fund and the banks have clear procedures and recommendations for dealing with countries who persistently fail to service debt effectively. The UK provides support and ensures the IMF implements its recommended policies for addressing these issues. So far, with Zimbabwe, the Fund and the banks have followed their due process and implemented penalties accordingly which we have supported. The IMF Executive Board will consider Zimbabwe's position later in the year.
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