Repealing the Zimbabwe Democracy and Economic Recovery Act of 2001

(a) In general The Zimbabwe Democracy and Economic Recovery Act of 2001 (ZEDERA Act), as amended, Public Law 107–99 (115 Statute 962) is hereby repealed. (b) Condition on further funding for zimbabwe The United States shall not support any new or expanded funding from the International Monetary Fund or the International Bank for Reconstruction and Development (commonly known as the World Bank) for the Government of Zimbabwe unless the Government of Zimbabwe shall commit, within 12 months of the approval of such new or expanded funding, to remit all outstanding arrears owed under the Global Compensation Deed, inflation adjusted to the date of enactment, and compensation shall not be in the form of Zimbabwe issued securities. Failure to comply with this provision shall result in an immediate cessation of all United States support for any further funding from these institutions.