The International Monetary Fund (IMF) has privately warned Zimbabwe that state payouts to a company linked to global commodities trader Trafigura were pushing the shortages-plagued economy to the brink, reviving fears of corruption at the highest level of government.

Payouts to Sakunda Holdings, a fuel company owned by an ally of President Emmerson Mnangagwa, were in effect met by the central bank’s printing money. The transactions severely undermined the country’s currency — the Zimbabwe dollar — only months after it was introduced, the Washington-based institution told Harare earlier in September, according to two people with knowledge of the discussions.

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