Business / Economy
Zimbabwe meets IMF targets
09 Sep 2015 at 22:26hrs | Views
Zimbabwe has met all the quantitative targets under the International Monetary Fund (IMF) Staff Monitored Programme (SMP).
An IMF delegation led by Mr Domenico Fannessa says Zimbabwe has managed to comply with the second phase of the SMP despite resurfacing macro-economic pressures.
In a statement, Mr Fannessa said government has managed to instil business confidence in the public sector through various reforms while monetary authorities have stabilised banking industry operations.
The IMF delegation, which will be leaving the country this Thursday after a 10-day visit, says it is impressed with the manner the government is also stepping up efforts to clear outstanding debt to international financiers.
The Bretton Woods institution says the commitment by the government to instil discipline in the management of the public services accounts is a reflection that Zimbabwe is committed to devote funds into capital projects.
Zimbabwe is targeting an annual economic growth rate of 1,5 percent this year.
The SMP covers four areas such as balancing primary fiscal accounts, restoring confidence in the financial sector, improving investment climate and mobilising support for arrears clearance.
An IMF delegation led by Mr Domenico Fannessa says Zimbabwe has managed to comply with the second phase of the SMP despite resurfacing macro-economic pressures.
In a statement, Mr Fannessa said government has managed to instil business confidence in the public sector through various reforms while monetary authorities have stabilised banking industry operations.
The Bretton Woods institution says the commitment by the government to instil discipline in the management of the public services accounts is a reflection that Zimbabwe is committed to devote funds into capital projects.
Zimbabwe is targeting an annual economic growth rate of 1,5 percent this year.
The SMP covers four areas such as balancing primary fiscal accounts, restoring confidence in the financial sector, improving investment climate and mobilising support for arrears clearance.
Source - Byo24News
