Zimbabwe finance minister wants to clear World Bank arrears

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Zimbabwe’s new Finance Minister said on Monday he would accelerate the country’s plan to pay arrears to the World Bank and African Development Bank – and would work on a three-year programme to bring down government expenditure.

Mthuli Ncube told reporters that clearing $1.8 billion in arrears to the African Development Bank and World Bank was important to Zimbabwe’ economic recovery.

Ncube also told reporters shortly after being sworn into office that he would look to remove Zimbabwe’s quasi currency bond note as part of currency reforms.