Zim clears IMF arrears

ZIMBABWE has cleared its arrears with the International Monetary Fund (IMF), after paying $108 million on Thursday, the Fund has announced.

Zimbabwe, which has been in arrears since 2001, used its allocation of special drawing rights (SDRs) allocated to all IMF member states in 2009 as part of a global financial rescue package to clear the outstanding amount.

“On October 20, 2016, Zimbabwe settled its overdue financial obligations to the Poverty Reduction and Growth Trust (PRGT) of the IMF.

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