Zimbabwe pays off IMF arrears

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Zimbabwe has paid the International Monetary Fund (IMF) more than $100m (£83m) to settle its arrears with the organisation, the AFP news agency is reporting.

The IMF said in a statement that “Zimbabwe is now current on all its financial obligations to the IMF”.

The country had been in arrears since 2001, it added.

AFP says that Zimbabwe will still not qualify for funding from the IMF until it pays off other money that it owes to other international organisations, including $1.1bn to the World Bank.

Zimbabwe is hoping to get further loans to help its struggling economy back on its feet.

 

Source: BBC