Ex-South African President, Jacob Zuma Slams IMF Over Zimbabwe’s Sanction

Posted by African Examiner Featured, Latest Headlines, News Around Africa, South Africa, Southern Africa Monday, July 10th, 2023

(AFRICAN EXAMINER) – Former South African President Jacob Zuma has slammed the International Monetary Fund (IMF) for slapping Zimbabwe with financial sanctions in 2001, saying the decision was wrong and unfair.

Zuma was a special guest at the first ever Africa Voluntary Carbon Credits Market Forum (AVCCMF) held in Victoria Falls, Zimbabwe where he called for home-grown Afro-centric solutions to the continent’s problems.

He attended the event in his capacity as board member of the Belarus-Africa Foreign Trade Association and patron of the JG Zuma Foundation.

The AVCCMF was the first ever such event and sets the tone for the continent’s future in carbon credit sequestration and climate change mitigation through carbon financing.

Zuma slammed the IMF for starving Zimbabwe of credit facilities in 2001.

“You will recall that it was in 2001 when the IMF declared Zimbabwe unsuitable to access its resources.

“The irony of the IMF shows that their decision was wrong and unfair because the people of Zimbabwe have shown qualities of wisdom, innovation, and creativity. Under the Zimbabwean leadership, in the identification, adoption and implementation of this platform of trading carbon credits, Zimbabweans have proved beyond reasonable doubt that they are more than capable of addressing the problems facing Zimbabwe and the entire African continent,” he said.

He said by hosting the AVCCMF, Zimbabwe had answered the call to action which says that climate change presents a major threat to long term growth and prosperity of humanity.

Climate change has a direct negative impact on long term growth as it increases challenges of poverty, inequality and unemployment.

Zuma said by hosting the AVCCMF, Zimbabwe had proven that there was capacity in the country and continent to push continental 2063 agenda.

“This inaugural Africa Voluntary Carbon Credits Market Forum exhibits and provides inspiration for Afrocentric solutions for Africa problems meaning that we as African nations are not spectators but participants in providing Africa solutions.

“AVCCMF marks the beginning of the transformation agenda and puts Africa on an unprecedented developmental trajectory through voluntary people centred participatory climate actions and leap forward for the Africa Agenda 2063,” said Zuma.

Through having an 18 percent of the world’s population and a fifth of the total land surface of the earth, Africa can be a valued partner in helping developed nations to offset their carbon emissions statutory requirements, said Zuma as he presented a 2 million carbon offsets cheque to be placed on the AVCCMF for sale, courtesy of the JG Zuma Foundation and BAFTA.

Zuma said the AVCCMF provides the opportunity for affordable scalable solutions that can enable countries to leapfrog to cleaner atmospheres and more resilient economies.

“This forum envisages a great opportunity for Africa to use its natural resources to stimulate economic growth.

“Africa has a colossal opportunity to play a crucial role in saving the world through climate solutions while simultaneously opening space for African climate entrepreneurship, for innovative forward thinking Africans.

“This groundbreaking event will certainly yield unprecedented potential to empower the African continent and it is also going to change Africa’s participation in the global climate economy,” said Zuma.

He said this calls for united and robust action by African countries.