IMF impressed by Zimbabwe`s economic recovery

source: Sunday Standard
by Sunday Standard Reporter in Bulawayo
01.11.2009 10:51:15 A

The International Monetary Fund (IMF) has commended Zimbabwe’s recovery progress, but has however warned on the large external current account deficit and increased credit as well as liquidity risks in the banking system.
During its recent visit to the country, the IMF mission stated that Zimbabwe’s economy has begun to recover in 2009, albeit from a low base.

The mission further noted that since early 2009, the government has broadly adhered to cash budgeting, achieved a significant improvement in budget revenue, established a multi-currency system, and largely liberalised prices and the exchange system, saying as a result of these improved policies, real GDP is projected to grow by about 3 percent.

The IMF also noted that the [continue reading]

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