World
IMF gives no support to Zimbabwe

HARARE: The International Monetary Fund (IMF) said on Tuesday (Wednesday in Manila) that it was unable to offer any financial support to Zimbabwe due to its unsustainable debt and outstanding arrears. 'The IMF is precluded from providing financial support to Zimbabwe due to an unsustainable debt and official external arrears,' the fund said in a statement after a month-long mission to the African country. 'A Fund financial arrangement would require a clear path to comprehensive restructuring of Zimbabwe's external debt including the clearance of arrears and obtaining financing assurances from creditors.'