October 10, 2018 / 11:30 AM / 12 days ago

IMF, World Bank endorse Zimbabwe's plan to clear arrears -finance minister

HARARE, Oct 10 (Reuters) - The World Bank and IMF have endorsed Zimbabwe’s road map to clear more than $2 billion in foreign arrears at a meeting in Indonesia on Wednesday, the finance minister said, adding that the lenders had also backed his two-year economic recovery plan.

President Emmerson Mnangagwa has promised to revive the struggling economy, pay foreign debts that the country has defaulted on since 1999 and restore ties with West after becoming a pariah under Robert Mugabe’s near four-decade rule. (Reporting by MacDonald Dzirutwe Editing by James Macharia)

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