Zimbabwe reaches IMF agreement to deal with currency crisis

‘RTGS dollar’ will be supported by advice from IMF programme

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Ongoing problem: Zimbabwe’s currency was destroyed a decade ago, after an infamous period of hyperinflation

The Reserve Bank of Zimbabwe (RBZ) is to stop printing money as part of an International Monetary Fund staff-monitored programme in an attempt to deal with the country’s ongoing currency crisis.

An IMF statement on May 31 announced that the programme will last until May 2020 and provide currency advice to Zimbabwe. While it will not provide financial assistance, the agreement marks a major step in mending ties with the international community after decades of unpaid Zimbabwean loans.

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