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Zimbabwe's ICC status is at stake as the board be to take further action including termination of membership if they don't fix their governing board. The suspension means that Zimbabwe stand deprived of all its rights as a member, which means no ICC revenue and no participation in all cricket sanctioned by the ICC.
ICC also categorically mentioned that ZC were found in breach of Articles 2.4 (D) and (E) of the ICC Articles of Association. The ICC will convene for its next meeting on October 12, four days after the deadline set for Zimbabwe.
The statement from ICC says -
"Should you wish the ICC to reconsider your suspension, you are required to take all relevant steps to ensure that the Board of Zimbabwe Cricket elected on 14 June 2019 is unconditionally reinstated forthwith and, in any event, no later than 8 October 2019 so that the ICC Board can review the matter when it convenes on 12 October 2019 for its next meeting.
You are also required to provide satisfactory evidence to ensure that the Zimbabwe Cricket will administer its affairs free of external interference and influence. Should the ICC not receive a satisfactory response from you on the above terms, within the stipulated timeframe, the ICC reserves its right to take such further action as it deems appropriate including to proceed by way of termination of your membership as provided for in the Articles of Association."
Zimbabwe also pulled off from the tri-nation T20I series which was set to take place against 
