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Vol 48 No 22

Published 2nd November 2007


Zimbabwe

Fund furore and banking bailout

Against the advice of their own senior staff, the Boards of the International Monetary Fund and the World Bank are blocking the restoration of voting rights to Zimbabwe, apparently at the prompting of the British and United States’ directors. The Harare government lost its voting rights when it fell into chronic arrears with the Bank and Fund but is steadily clearing the US$125 million backlog.

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