RBZ officials call for new economic order

Zimbabwe should consider changing its model of running the economy to ensure higher growth outcomes, senior central bank officials have said.

Jesimen Chipika Chipika, deputy governor of the Reserve Bank of Zimbabwe, said the country should move away from colonial era models of running the economy where Zimbabwe has been relying on few lines of products to export and diversity.

She indicated that macro-economic implications have shown that more diversified economies in terms of production and export structure are associated with higher growth outcomes.

Zimbabwe is currently grappling with a worsened liquidity crunch and an International Monetary Fund (IMF) report this week said the country's external position remained precarious. It said the country was in debt distress.