Zimbabwe Can Now Withdraw US$960 Million From The IMF

Zimbabwe can now withdraw its SDR677.4 million, which is equivalent to US$960 million, from the International Monetary Fund (IMF).

IMF managing director Kristalina Georgieva said Monday the organization is allocating US$650 billion to its 190 members which members can withdraw from today.

The bailout is, however, befitting rich countries as the allocation is based on each country’s quota shares in the IMF.

The United States, for example, is entitled to SDR79 billion which is over US$111 billion, and is more than five times what all the low-income countries are getting.

Georgieva said about US$275 billion is going to emerging and developing countries, of which low-income countries will receive about US$21 billion.

The rich countries: China, Japan, Germany, France and the United Kingdom, are each getting more than all the low-income countries are getting.

Below is a list of how much some countries are getting:


More: The Insider

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/It6VUwjAcFF87NoV6qb2xW

Telegram Group:

Back to top

5 comments on “Zimbabwe Can Now Withdraw US$960 Million From The IMF

  1. USD$960 MILLION is better than ZWL960 BILLION, but how long will it last?????🤔🤔🤔 and what will it be spent on????? 🤔🤔🤔

Write a Comment

Your email address will not be published.

Share Full Post

Nyaradzo logo

RSS Recent Profiles Created