Latest News Editor's Choice

News / National

IMF team in Zimbabwe for second staff-monitored programme talks

by Staff reporter
02 Apr 2019 at 17:22hrs | Views
An International Monetary Fund (IMF) team is in Zimbabwe for a second staff-monitored programme (SMP) that seeks to consider possibilities of opening new credit lines.

Following years of global isolation and the refusal to offer credit lines to the country by the Bretton Woods institutions, the re-engagement exercise is beginning to yield the desired results.

While the IMF has restored technical expertise to the country, it is the resumption of credit lines which is under the spotlight.

According to the Minister of Finance and Economic Development Professor Mthuli Ncube, the IMF team is in the country for discussions with the government on key developmental issues.

"They (IMF) are in the country and we anticipate that the talks will go a long way towards increasing confidence and paving way for new avenues of growth," said Professor Ncube.

He said the reengagement process with the IMF is being made when the government is also forging ahead with fiscal and monetary reforms.

"We have introduced the interbank market and other forces of economic systems that we anticipate will go a long way in the revival of this economy and shape the destiny of the future," he added.

The IMF recommendations or outcome of its visit to Zimbabwe are expected to be released by end of this week.

Source - zbc