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Saturday, June 3, 2023

IMF in final assessment of Zimbabwe’s economic performance

Article By Stanley James, Business Editor

AN International Monetary Fund (IMF) team is in Zimbabwe for talks with the government, the Reserve bank and the private sector before releasing its end-of-year report.

The meetings are being held when Zimbabwe has already set a 3.8 percent growth forecast for next year.

However, officials privy to the closed meetings say the IMF is also carrying out its assessment on growth for the year including predictions for 2023.

With the IMF continuously engaging the government, hopes are high that the trend will set the tone for increased global financial sector confidence in the Zimbabwean economy.

“Their presence is really necessary as it sends positive tones to the global community about what the country is doing under its reengagement thrust,” said Luxon Zembe an economic commentator.

“The IMF is a global financier and their technical expertise will also provide set guidelines on what can be done to sustain the current growth trajectory,” said Dr Prosper Chitambara a development economist.

The IMF delegation’s visit is being held when the second republic is forging ahead with the engagement and re-engagement drive with global multilateral financiers.

Despite limited external financial support, domestic resource mobilisation has resulted in fiscal authorities managing to balance spending and revenue inflows.

During its mid-year visit, the Breton Woods institution revealed that the economy is on right track with fundamentals being put in place to sustain the growth trajectory.

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