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Enacy Mapakame Business Reporter
Zimbabwe has cleared its debt arrears with the International Monetary Fund as part of efforts to settle its overdue financial obligations to the multilateral institution to qualify for fresh lines of credit.
The IMF said Zimbabwe, which had been in arrears since 2001, yesterday settled its obligations, amounting to $107,9 million to the IMF’s Poverty Reduction and Growth Trust.
The IMF said Zimbabwe transferred part of its SDR holdings kept at the IMF to the PRGT account to clear the arrears.
“Zimbabwe is now current on all its financial obligations to the IMF,” said IMF in a statement.
Peter Tanyanyiwa
Online Reporter