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Zimbabwe has finally paid off its 16-year debt to the International Monetary Fund.
It’s part of its arrears clearance strategy with multilateral institutions. According to a statement released by the IMF, Zimbabwe settled its financial obligations on Thursday. The country has been in continuous arrears since 2001. It had to pay off more 100 million dollars.
Last year at the annual IMF, Zimbabwe and its creditors came to a consensus that the country would clear its debts before financial support talks could begin.
