See also:
» 07.01.2011 - Record Zimbabwe debts to Equatorial Guinea
» 01.07.2010 - Zimbabwe govt unable to fight corruption
» 29.10.2009 - IMF warns Zimbabwe of increased external deficit
» 19.06.2009 - Britain not ready to lift sanctions against Zim
» 18.05.2009 - Zimbabwe gets more help, but with a pinch of acid warning
» 07.05.2009 - Zimbabwe gets more boost for economic recovery
» 03.11.2008 - Zimbabwe accused of misuse of Global Fund money
» 06.07.2006 - Opportunistic money is creating a new elite











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Zimbabwe
Economy - Development | Health | Society

Zimbabwe releases $7.3 million global fund money

afrol News, 7 November - Zimbabwean government has repaid US $7.3 million unspent money, which was geared at fighting diseases, Global Fund said today.

International aid agency had accused Zimbabwean government of misusing $7.3 million out of $12.3 million it deposited into Zimbabwe's Reserve Bank last year for distribution of medicines.

"We expect that this signals a more effective way of working in Zimbabwe, accelerating delivery of interventions against three diseases in the country," Global Fund's executive director Michel Kazatchkine said.

The bank acted a day before, Global Fund to Fights AIDS, Tuberculosis and Malaria, was to decide on $188 million in new grants for Zimbabwe.

The fund's inspector general has insisted on new safeguards on donations, against reports in the state media, where Reserve Bank governor, Gideon Gono, did not explain where the money went.

The money was intended to train thousands of health workers to distribute malaria cure, medicine that is said to be already available but sits on shelves, according to reports.

Zimbabwe has one of the world's worst AIDS epidemic, a collapsing health infrastructure and a growing hunger crisis.

Mr Mugabe, who has been in power since independence from Britain in 1980, blames Western sanctions against his government for his country's extreme economic crisis. But, critics point to corruption and mismanagement under his increasingly autocratic leadership.

Other aid groups have also reported difficulties assessing their own funds once they are deposited in Zimbabwe's central bank. They, like Zimbabwean businesses and ordinary residents, are subject to limits on cash withdrawals and shortages of Zimbabwean dollar as the economy collapsed.

Meanwhile, Zimbabwe issued three new denominations of banknotes on Wednesday, including a one-million dollar note, about two US dollars on the black market, as impoverished country struggles to cope with hyperinflation.


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