Zimbabwe excluded from IMF debt relief

Posted: Friday, Jan 13, 2006 at 0154 hrs IST
Updated: Friday, Jan 13, 2006 at 0154 hrs IST

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Harare, Jan 12: Zimbabwe has been excluded from the first phase of a new international monetary fund (IMF) debt relief programme worth $3.3 billion.

IMF managing director Rodrigo de Rato recently announced that the first group of countries eligible for relief under the fund’s multilateral debt relief initiative (MDRI) and Zimbabwe is not in the group.

Mdri is aimed at helping indebted countries reduce spending on debt repayments and redirect the saving towards economic growth and reduce poverty. Nineteen countries, 13 of them from Africa, will get the debt relief this year, De Rato said in a statement.

Nampa

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