Zimbabwe secures $200 million loan to manage Coronavirus impacts

According to Bloomberg, Zimbabwe has received more than $200 million from donors and governments to assist the government in managing the coronavirus pandemic, Finance Minister Mthuli Ncube said.

The funds include $45 million from the U.K., $60 million from the European Union and $8 million from the U.S., Ncube said in a an opinion article published in the state-run Herald newspaper. Among other contributors are the African Development Bank and the Arab Bank for Development in Africa with $13 million and $10 million, respectively, he said.

Zimbabwe hasn’t received any of the $50 billion that the International Monetary Fund made available to low-income and emerging economies to help mitigate the impact of the outbreak because it still has outstanding arrears of about $8 billion with foreign creditors including the World Bank.

The country had 4,339 cases of Covid-19 as of Aug. 5, with 84 deaths, according to data from Johns Hopkins University.


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