Zimbabwe expects IMF programme in third quarter after currency changes

Item 1 of 2 Finance Minister Mthuli Ncube gestures during a media briefing in Harare, Zimbabwe, October 5, 2018. REUTERS/Philimon Bulawayo/ File photoApril 19 - Zimbabwe's Finance Minister Mthuli Ncube said on Friday that a staff-monitored programme with the International Monetary Fund would be delayed until the third quarter of 2024 after the country introduced a new currency, Zimbabwe Gold .

Zimbabwe had said last year that it hoped to have a programme agreed by April 2024, but that was delayed due to the introduction of the ZiG this month. Ncube said the ZiG still needed time to be fully operational before engagements with the IMF could progress. "Whoever is trading on the alternative market is doing money laundering," said Finance Secretary George Guvamatanga at the media briefing, saying the government would crack down on this.Zimbabwe has been locked out of international financial markets for more than two decades but recently committed to clearing about $6 billion in external debt.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zimbabwe inflation rate hits seven-month high as finance minister pledges to actAnnual inflation quickened to 55.3% this month from 47.6% in February, the Zimbabwe National Statistics Agency said Wednesday.
Source: Moneyweb - 🏆 5. / 77 Read more »

Pakistan and IMF discussing new multi-billion-dollar program, finance minister saysPakistan has initiated discussions with the IMF over a new multi-billion dollar loan agreement to support its economic reform program, its new finance minister told AFP on Monday.
Source: brieflyza - 🏆 10. / 68 Read more »

Pakistan aims to agree outline of new IMF loan in May - SABC News - Breaking news, special reports, world,Pakistan hopes to agree the contours of a new IMF loan in May, Finance Minister says.
Source: SABC News Online - 🏆 32. / 51 Read more »