Jacob Zuma slams IMF over Zimbabwe ban on credit Former South Africa president Jacob Zuma. picture by Eliah Saushoma

Nqobile Bhebhe, Acting Business Editor

Former South African president Jacob Zuma has slammed the unjustifiable decision taken by the International Monetary Fund (IMF) in 2001 to starve Zimbabwe of credit facilities saying the move was unjust and uncalled for.

President Zuma said Zimbabwe’s leadership has instead equally responded by exhibiting unique qualities to internally solve its challenges and proffer tangible solutions to the continent.

President Zuma was addressing delegates here in Victoria Falls on Friday attending the inaugural Africa Voluntary Carbon Credits Market Forum.

On September 24, 2001, Zimbabwe was declared ineligible to use the IMF’s general resources and was removed from the list of countries eligible to use resources.

“In 2001 the International Monetary Fund (IMF) declared Zimbabwe unsuitable to tap into its financial resources.

“The irony of IMF shows that their decision was wrong and unfair because the people of Zimbabwe have shown qualities of wisdom, innovation and creativity,” said President Zuma amid applause from delegates.

“Under the leadership of Zimbabwe in the identification adoption and implementation of the platform of trading in carbon credits, Zimbabweans have proved beyond any reasonable doubt that they are more than capable of addressing issues affecting Zimbabwe and the continent. Zimbabwe has truly answered the call to action,” he added.

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