Zimbabwe’s economic reforms charm IMF

By ZBC Reporter

The International Monetary Fund (IMF) has maintained its positive economic growth forecast for Zimbabwe and commended government’s COVID-19 response strategy which saw the pandemic having minimal impact on the economy.

An International Monetary Fund (IMF) team, which concluded its Article IV mission in Zimbabwe this Tuesday has revealed in a statement that it has been impressed with the country’s economic recovery, structural reforms, productivity trends, poverty eradication policies and Zimbabwe’s vaccination drive.

The team however, called on fiscal and monetary authorities to allow greater exchange rate flexibility, favourable macroeconomic policies, financing transparency, tight money supply and spending, among other moves.

The Minister of Finance and Economic Development, Professor Mthuli Ncube noted that the IMF’s continued pegging of the country’s growth forecast at 6 percent, is a confidence vote on Zimbabwe’s strides towards economic development.

“Indeed they held meetings with us and we shared various issues but I am also excited over what they have revealed in fact it shows how we are faring as a nation on our economic reform agenda,” he said.

With the IMF praising Zimbabwe’s economic recovery, businesspeople also outlined their expectations.

“It is likely to be a mixed bag but let us just wait and see how they, the responsible authorities can tackle key issues affecting the nation.The IMF stance also gives signals to the global community on what is being done by Zimbabwe so lets what and see what can happen,” said Mrs Chiedza Juru -Businesswoman.

The IMF revealed that during its fact finding mission, it held meetings with Professor Mthuli Ncube, his Permanent Secretary Mr George Guvamatanga, Reserve Bank of Zimbabwe Governor Dr  John Mangudya, Members of Parliament, the Private Sector, Civil Society and Zimbabwe’s Development Partners.

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