Harare’s Economic Programme Won’t Work

The International Monetary Fund (IMF) and the African Development Bank (AfDB) have given the thumbs down to Zimbabwe’s economic reform programme, saying that the country needs to do more to get out of its quagmire. In a statement after concluding a visit to the country this week, the IMF said Zimbabwe is experiencing an economic and humanitarian crisis, with macro-economic stability a challenge. “The government that came to office following the 2018 elections adopted an agenda focused on macro-stabilisation and reforms. This was supported by a staff-monitored programme from the IMF, adopted in May 2019, but is now off-track as policy implementation has been mixed.” The AfDB said Zimbabwe needs to normalise its relations with development partners to unlock more substantive external resources to fund its reform agenda.

SOURCE: BUSINESS DAY LIVE