Zimbabwe Democracy and Economic Recovery Act of 2001 - Policy

Policy

ZDERA’s policy was stated to "support the people of Zimbabwe in their struggle to effect peaceful, democratic change, achieve broad-based and equitable economic growth, and restore the rule of law." This policy was supported by the following findings made by the U.S. Congress:

  1. The Government of Zimbabwe was unable to participate programs created by the International Bank for Reconstruction and Development and International Monetary Fund Program (IMF) to assist in the transformation and resuscitation of Zimbabwe’s economy. Furthermore, said exclusion to the people of Zimbabwe from the economic and democratic benefits laid out by program donors, including the United States, was because of “economic mismanagement, undemocratic practices, and the costly deployment of troops to the Democratic Republic of the Congo” by the Zimbabwean Government.
  2. The IMF suspended support under a “Stand By Arrangement” in September 1999 that was approved in August 1999 for economic adjustment and reform. In October 1999, all structural loans, credits, and guarantees to the Government of Zimbabwe were suspended from the International Development Association (IDA). This was followed by a complete suspension of new lending to the Government of Zimbabwe by the IDA in May 2000. By September 2000, the IDA suspended all funds to the Government of Zimbabwe for ongoing projects.

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Famous quotes containing the word policy:

    “Men must learn now with pity to dispense,
    For policy sits above conscience.”
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    “A policy is a temporary creed liable to be changed, but while it holds good it has got to be pursued with apostolic zeal.”
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