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IMF Says Not Ready to Resume Funding to Zimbabwe

The International Monetary Fund has ruled out resuming loans to Zimbabwe until the southern African country has retired its longstanding external debt of about $10 billion. Zimbabwe's government is seeking new loans to help bail out its depressed economy. After concluding a two-week review, Domenico Fanizza, who headed the IMF delegation, said Zimbabwe is making progress toward re-engaging the international community. He added, however, that Zimbabwe remains “in debt...

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