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IMF Gives Zimbabwe Another Chance to Pay Its Debts

The International Monetary Fund says it has given Zimbabwe another chance to meet its financial obligations before facing expulsion from the organization.

In a statement Wednesday, the I.M.F. said it made the decision to extend Zimbabwe's membership because the country has increased its payments to the lending agency and showed some improvements in its economic policies.

However, the I.M.F. said it will consider proposals to expel Zimbabwe in another six months if it lags behind in payments. The I.M.F. says Zimbabwe owes it more than 300 million dollars. The I.M.F. says Zimbabwe has continuously been behind in payments since February 2001.

Some information for this report provided by IMF release and AFP.