Zimbabwe only African country in WB arrears

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THE World Bank (WB) says Zimbabwe owes US$1,5 billion to the global financial institution and is currently the only African country which is in debt arrears to the Bretton Woods institution.
WB Zimbabwe country manager Marjorie Mpundu told editors yesterday during a media engagement meeting that the country will only access new lines of credit from the institution after clearing its debt.

“The Republic of Zimbabwe owes us about US$1,5 billion. They have been in arrears since 2000. Part of this US$1,5 billion is also the interest accrued over the last 22 years. This number will continue increasing till payment is made.