Business / Economy
Zimbabwe growth set to slow sharply: IMF
10 Jun 2011 at 04:32hrs | Views
Zimbabwean growth is set to slow sharply this year and the country's recovery from a decade-long deep economic contraction remained fragile, the International Monetary Fund said on Thursday.
An IMF review of Zimbabwe's economy projected that economic growth would drop to 5.5 percent in 2011 from 9.0 percent in 2010. It said the country was in "debt distress" with a large unsustainable external debt stock of 118 percent of gross domestic product as of the end of 2010, the bulk of which was in arrears.
An IMF review of Zimbabwe's economy projected that economic growth would drop to 5.5 percent in 2011 from 9.0 percent in 2010. It said the country was in "debt distress" with a large unsustainable external debt stock of 118 percent of gross domestic product as of the end of 2010, the bulk of which was in arrears.
Source - Reuters
