On Thursday, the treasury said the economy grew by 4% in 2018, below an initial forecast of 4.5%, as it struggles with a shortage of dollars and surging inflation. on a program of economic policies and structural reforms that could pave the way to the crisis-hit country re-engaging with international financial institutions.
It has arrears of around $2.2 billion with the World Bank, the African Development Bank and European Investment Bank. “Zimbabwe is facing deep macroeconomic imbalances, with large fiscal deficits and significant distortions in foreign exchange and other markets, which severely hamper the functioning of the economy,” Gene Leon, leader of the IMF staff team, said in a statement.
Under the agreement with the IMF, policies will focus on eliminating the government’s double-digit fiscal deficit and adoption of reforms to allow market forces to drive the functioning of foreign exchange and other financial markets.
Just after announcing the compensation of white farms, IMF is in the picture🤔
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