Zimbabwe : Zimbabwe: Settlement of Overdue Financial Obligations to the Poverty Reduction and Growth Trust,Lifting of Declaration of Noncooperation, Lifting of Restriction on Fund Technical Assistance, and Restoration of Poverty Reduction and Growth Trust Eligibility-Press Release; and Staff Report

Author/Editor:

International Monetary Fund. Finance Dept.

Publication Date:

December 19, 2016

Electronic Access:

Free Full Text (PDF file size is 449 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

On October 20, 2016, Zimbabwe fully settled its overdue financial obligations to the Poverty Reduction and Growth Trust (PRGT) using its SDR holdings.1 Zimbabwe had been in continuous arrears to the PRGT since February 2001. The authorities had been making regular monthly payments of US$0.15 million each since 2013, and four more such payments have been made since the last review of overdue financial obligations on May 2, 2016.2 As of the day of repayment, Zimbabwe’s arrears to the PRGT amounted to SDR 78.3 million, which comprised overdue PRGT principal of SDR 61.7 million, and total interest obligations of SDR 16.6 million, (covering overdue interest and interest accrued through October 20, 2016 on overdue principal and interest amounts). The repayment of SDR 78.3 million has been applied towards the PRGT’s Reserve Account.

Series:

Country Report No. 16/382

Subject:

English

Publication Date:

December 19, 2016

ISBN/ISSN:

9781475561258/1934-7685

Stock No:

1ZWEEA2016002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

7

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