Poor bank cooperation stymies international aid

An international HIV/Aids fund is refusing to approve any new grants for Zimbabwe until its bank can explain missing money.

The Global Fund to Fight AIDS, Tuberculosis and Malaria claimed $7.3 million (£4.6 million) of the $12.3 million deposited with the Reserve Bank of Zimbabwe last year was not spent on fighting disease, reported the Washington Times.

Fund executive director Michel Kazatchkine said: "We will not sign any new grants even if the fund board approves future grants to Zimbabwe unless that money is fully recovered."

Zimbabwe went into economic meltdown following the government's land reform scheme.

Inflation has got so out of control the country recently introduced a million dollar note.

Savings deposited in banks are now worth next to nothing.

According to AFP, a 100,000 banknote is worth one US dollar on the black market which could buy half a loaf of bread.

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