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International Monetary Fund Restores Zimbabwe's Voting Rights in Step to Normalization


Zimbabwe's voting rights as a member of the International Monetary Fund were suspended in 2003 over the country's substantial arrears on its debts to the global lender of last resort

The International Monetary Fund board decided Friday to restore Zimbabwe's voting rights as a member of the IMF, the international lender of last resort.

But Zimbabwe must address its arrears on payments on its US$1.3 billion debt to the IMF, the World Bank and the African Development Bank before it can obtain new credit from such international financial institutions.

Economist Walter Nsununguli Mbongolwane told VOA Studio 7 reporter Brenda Moyo in an interview conducted before Friday's decision that restoration of the country's voting rights would be an important step in Zimbabwe's global financial rehabilitation.

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