Zimbabwe Receives US$961 Million from International Monetary Fund

The government of Zimbabwe has received US$961 million from the International Monetary Fund (IMF).

The funds have been deposited with the Reserve Bank of Zimbabwe.

The Reserve Bank of Zimbabwe released a statement confirming that it has received the money.

“We would like to advise the public that Zimbabwe has received SDR 677.4 million (USD961 million) from International Monetary Fund under the IMF’s USD 650 Billion SDR allocation earmarked to provide additional liquidity to the global financial system,” said the RBZ in a statement.

“The immediate impact of this support from the IMF is to increase the foreign exchange reserves position of the country by US961 million. This will go a long way in buttressing the stability of our domestic currency,” added RBZ.