IMF threatens expel troubled nation

Dec. 4, 2003 at 3:31 PM
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HARARE, Zimbabwe, Dec. 4 (UPI) -- The International Monetary Fund has initiated procedures to expel troubled Zimbabwe for lack of cooperation, the BBC reported Thursday.

"The IMF regrets that the authorities have not adopted comprehensive policies needed to address Zimbabwe's serious economic problems," the IMF said.

It added that Zimbabwe had been in arrears to the IMF since 2001, and now owes $273 million.

The expulsion procedures take some months to complete, and the IMF said Zimbabwe would have "ample opportunity" to reverse the process.

But, it warned the procedures "could ultimately result in the compulsory withdrawal of the country from the IMF."

The IMF's announcement comes as the African nation faces economic collapse and deepens its international isolation. It was suspended from the Commonwealth earlier this year after charges that the country's president, Robert Mugabe, had rigged his re-election.

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