Zimbabwe urgently needs $4bn stimulus package

Former Finance minister Tendai Biti says Zimbabwe urgently needs a $4 billion stimulus package to get the economy ticking.

The opposition MDC secretary general told a press conference this afternoon that the package is the only remedy for the country's acute liquidity crisis and deflation.

He said $1 billion will be set aside for productive sectors such as mining and agriculture while another $1 billion will be spent on infrastructure development.

Biti added that some of the funds will be channelled towards recapitalisation of the central bank so that it resumes its role as lender of last resort, among its key functions.