Zimbabwe reaches IMF agreement to deal with currency crisis

Zimbabwe bond note

The Reserve Bank of Zimbabwe will stop printing money as part of an International Monetary Fund staff-monitored programme, in an attempt to deal with the country’s ongoing currency crisis.

An IMF statement on May 31 announced that the programme will last until May 2020 and will provide currency advice to Zimbabwe. While the programme will not provide financial assistance, the agreement marks a major step in mending ties with the international community after decades of unpaid Zimbabwean loans.

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