Zimbabwe finalizing agreement to repay $1.8 billion in arrears
Economy | Information | History | Online | Facts | World | Global | Money
Zimbabwe first presented an arrears clearance plan to the IMF and World Bank in Peru's capital, in October. The plan proposes clearing the one-point-8-billion in arrears by refinancing existing debt. However, as the president of the African Development Bank explains, Zimbabwe has a lot more to do in order to get its economy back on track.
Comments
-
How do you answer a question about Zimbabwe by mentioning an unrelated issue in Nigeria?
-
No it's that Zimbabwean Govt had a debt of $1.8 million from IMF. date back donkey years. Zimbabwe Govt has finally agreed to pay back. Zim is a member of the IMF hence they contribute in that Fund and they are entitled to a loan. So they couldn't pay back the loan for all these years, now pressures are mounting cause the country needs cash. That's why Finance Minister had come to UK to settle the deal for a loan from the IMF yet again. Criticis say that, another loan which would burden our young children in the near future in taxes which might take almost 25 years to clear. Anyway more from the critics say: why not do this and that instead of borrowing a loan. Oh that's politics.
-
Wow the IMF and the World Bank should be paying Zimbabwe !
3m 30sLenght
4Rating