Saturday, September 05, 2009

Zim receives boost from IMF

from the BBC

The International Monetary Fund is giving Zimbabwe $400m to boost its foreign currency reserves.

However, a further $100m will be kept in a special account and Zimbabwe's government will not have access to it until it has cleared $1bn in debts.

Zimbabwe is in dire need of cash to rebuild its battered economy.

BBC Southern Africa correspondent Karen Allen says Zimbabwe's financial crisis has been partially blamed on mismanagement of central bank funds. ...

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