Zim pays $700m debt
12/05/2008 13:02  - (SA)  

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Maputo - Despite its deepening economic crisis Zimbabwe paid a debit of $700m to the African Development Bank, the bank said in a press release issued in Maputo on Monday.

"Zimbabwe has, in all, paid $700m to the Bank Group despite numerous economic challenges currently facing the country, both globally and locally," read the statement.

The bank said the country's efforts to pay its debt were "testimony of the government's determination to live up to its international financial obligations".

The payments were done on April 14 this year when the country paid $200m to the African Development Fund and $500m to the African Development Bank.

- SAPA

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