INTERNATIONAL – The International Monetary Fund is supportive of Zimbabwe's economic policy reforms, but says the success of recently instituted currency reforms will depend on wholesale implementation of effective monetary and fiscal measures as investors and other funders weigh their options. Inflation has ratcheted up to more than 50 percent and foreign currency shortages are resulting in shortages of key commodities such as fuel and imported raw materials for productive sectors.
The economic challenges that Zimbabwe is facing have frustrated investors, with funders pulling out. Zimbabwean companies such as Simbisa Brands have stayed plans to list in London until certainty is restored to the economy. Discussions that would have seen a UK-based purchase a shareholding stake in Bindura Nickel Corporation - controlled by Asa Resources - collapsed this month, a result that market watchers said was because of heightened economic uncertainties.
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