World Bank urges Zimbabwe to stabilize economy for 12 months before negotiating $21B debt.
The World Bank has urged Zimbabwe to stabilize its economy for at least 12 months before negotiating its $21 billion debt with international creditors. The country is facing significant currency depreciation against the US dollar, with the local currency valued at 13.96 and trading between 16 and 26 in the parallel market. The Reserve Bank of Zimbabwe is intensifying efforts to combat this decline, which has contributed to ongoing economic challenges since 1999.
September 17, 2024
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