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Zimbabwe aims to clear World Bank, AfDB arrears in 12 months

Finance Minister Mthuli Ncube gestures during a media briefing in Harare, Zimbabwe on October 5, 2018. [Photo: REUTERS]

Zimbabwe aims to clear its $2 billion arrears with the World Bank and African Development Bank in the next 12 months, after securing the support of international creditors and donor countries, Finance Minister Mthuli Ncube said on Friday.

Zimbabwe has struggled to access international credit since defaulting on its debts to global lenders two decades ago and running up arrears of nearly $6 billion.

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