Zimbabwe Democracy and Economic Recovery Act of 2001 - Financial Sanctions and Requalifications

Financial Sanctions and Requalifications

The following criteria were included in the guidelines of ZDERA and were stipulated as law until certain criteria were fulfilled or, exceptionally, it was necessary to meet "basic human needs or for good governance." As such, the Secretary of the Treasury instructed the U.S. executive director of each international financial institution to "oppose and vote against" the following:

1. any extension by the respective instruction of any loan credit, or guarantee to the Government of Zimbabwe;
2. any cancellation or reduction of indebtedness owed by the Government of Zimbabwe to the United State or any international financial institution.

The following were certifications that once satisfied would lift the aforementioned restrictions:

1. Restoration of the rule of law: including “respect for ownership and title to property, freedom of speech and association, and an end to the lawlessness, violence, and intimidation sponsored, condoned, or tolerated by the Government of Zimbabwe, the ruling party, and their supporters or entities.
2. Electoral Conditions: That Zimbabwe has held a presidential election that is widely accepted as free and fair and the president-elect is free to assume the duties of the office

OR

that the Government of Zimbabwe has sufficiently improved the pre-election environment to a degree consistent with accepted international standards for security and freedom of movement and association.

1. Transparent Land Reform: The Government of Zimbabwe has demonstrated a commitment to an equitable, legal, and transparent land reform program consistent with agreements reached at the International Donors’ Conference on Land Reform and Resettlement in Zimbabwe held in Harare, Zimbabwe, in September 1998.
2. Fulfilling the agreement to end the war in the DRC: The Government of Zimbabwe is making a good faith effort to fulfill the terms of the Lusaka, Zambia, agreement on ending the war in the Democratic Republic of Congo.
3. Military and police: The Zimbabwean Armed Forces, the National Police of Zimbabwe, and other state security forces are responsible to and serve the elected civilian government.