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Zimbabwe to Use Some IMF Funds to Support Currency

A man holds Zimbabwean dollar bond banknotes for an arranged photograph in Bindura, Zimbabwe on Sunday, July 29, 2018. Zimbabweans will elect a new leader on Monday, eight months after Robert Mugabe’s forced resignation, and the contest appears too close to call. Photographer: Waldo Swiegers/Bloomberg

Zimbabwe’s finance minister said the country plans to reserve (Bloomberg) around half of the $961 million disbursed in Special Drawing Rights from the International Monetary Fund (IMF) to prop up its currency. The government abandoned a one-to-one peg to the U.S. dollar in 2019, and the value of the Zimbabwe dollar has since plunged.

Chad: Former President Hissene Habre, the first leader convicted of war crimes by an African Union court, died (News24) while serving a life sentence. He was seventy-nine. Senegalese media reported that he died due to complications from COVID-19.

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