Zimbabwe Democracy and Economic Recovery Act of 2001 - Means of Support

Means of Support

ZDERA proposed two sectors of financial support for the Zimbabwean economy under the imposed sanctions.

1. Bilateral debt relief: the Secretary of the Treasury would conduct a review of the ability of “restructuring, rescheduling, or eliminating the sovereign debt of Zimbabwe held by any agency of the U.S. Government.”
2. Multilateral debt relief and other financial assistance: the Secretary of the Treasury would be allowed to direct the U.S. executive director of each multilateral development bank to “propose that the bank should undertake a review of the feasibility of restructuring, rescheduling, or eliminating the sovereign debt of Zimbabwe held by that bank” as well as to instruct the U.S. executive director of international financial organizations to which the U.S. is a member to proposition financial and technical support for Zimbabwe. Particularly if these means promoted “economic recovery and development, the stabilization of the Zimbabwean dollar, and the viability of Zimbabwe’s democratic institutions.”