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Updated On: Saturday, 21 July 2018
Development Issues

IMF is Ready to Help Zimbabwe

Content by: South-South News

4 December 2017, New York, USA | South-South News — IMF spokesman, Gerry Rice, told reporters today (Nov30) in Washington, that the Fund stands ready to help Zimbabwe restore growth and stability after the ousting of long-time president Robert Mugabe.

Rice said “Zimbabwe faces severe economic challenges on a number of fronts. So, restoring growth will require concerted efforts to tackle the fiscal deficit, to complement that with structural reforms, and so on.”

Rice added “we stand ready to support the authorities in their efforts to design policies that can indeed restore stability and growth. And moreover, in addition to a strong and coherent reform program we see a concerted international effort will be required to revive and reintegrate the Zimbabwean economy.”

But new money from the IMF can’t be provided under IMF rules until several preconditions are met, including resolving arrears of roughly $2 billion to the World Bank, Africa Development Bank and the EIB.

Storyline by: Unifeed


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