IMF says Zimbabwe needs credible plan to clear arrears

The International Monetary Fund said it would consider extending new financial support to Zimbabwe only if the southern African country agrees to clear arrears with international financial institutions. Zimbabwe owes $9 billion in external debt, half of it in arrears and has not received financial support from the IMF, World Bank and African Development Bank since 1999 due to policy differences between President Robert Mugabe and the West. Zimbabwe's economy is slowing down due to lack of f