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ZDERA Is Not A Sanction, And Has Never Been Invoked - US Embassy

4 days agoWed, 15 May 2024 13:28:30 GMT
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ZDERA Is Not A Sanction, And Has Never Been Invoked - US Embassy

The United States Embassy in Zimbabwe says the Zimbabwe Democracy and Economic Recovery Act (ZDERA) is a law and not a sanction.

This contradicts the ZANU PF-led government’s decades-long assertion that “illegal sanctions” imposed on Zimbabwe by the United States of America have devastated the economy and caused immense suffering for the citizens.

In a statement shared on its X page, the U.S. Embassy in Zimbabwe said that it has never had to invoke ZDERA to oppose international financial institutions’ loans or debt restructuring for Zimbabwe. It said:

Is ZDERA a sanction? Why was it not removed?

The Zimbabwe Democracy and Economic Recovery Act (ZDERA) has not changed.  ZDERA is a legislative act and is not a sanction.

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The United States has never had to invoke ZDERA to oppose international financial institutions’ loans or debt restructuring for Zimbabwe.

ZDERA outlines a clear roadmap for the United States to support the Government of Zimbabwe’s access to concessional financing and possible debt restructuring, but this could only happen once the Government of Zimbabwe has paid its outstanding debt arrears to the international community.

This is why the AfDB-facilitated dialogue is so important. The issues of democracy, governance, economic reform, and land reform addressed in that dialogue relate to many of the issues cited in ZDERA.

The Zimbabwe Democracy and Economic Recovery Act Of 2001 was passed and ratified by the U.S. Congress purportedly to provide for a transition to democracy and to promote economic recovery in Zimbabwe.

More: Pindula News

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