Zimbabwe agrees to pay $3.5 billion to compensate white farmers

Zimbabwe

After the country was sanctioned by the US, Zimbabwe has agreed to pay $3.5 billion in compensation to white farmers whose land had been expropriated under Robert Mugabe.

To raise the money, Zimbabwe will issue a long-term debt instrument on international capital markets, set to mature in 30 years.

While Zimbabwe said it is confident it will be able to raise the money, the cash-strapped country had to seek help from developmental partners.

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