IMF warns Zimbabwe government

IMF has warned President Robert Mugabe's government against interfering with Treasury operations.

IMF local representative Christian Beddies yesterday said that government was not giving Finance Minister Patrick Chinamasa enough room to implement sound reforms to revive the economy.

Beddies noted that Chinamasa was the right man for the job and had the requisite skills to rescue the country's ailing economy which has since slid into recession for the first time in eight years.

Meanwhile, it has been reported that the country has adequate fuel stocks to last into 2017 and the Reserve Bank of Zimbabwe will ensure availability of foreign currency to import the precious liquid.

This follows reports that the country was struggling to pay for its fuel supplies due to diminished nostro balances.

Secretary for Energy and Power Development Partson Mbiriri said the fuel situation is actually improving and Government will maintain that to avert shortages.  

He acknowledged that the country has been facing foreign currency challenges which affects not only fuel procurement but the importation of all capital goods.