Sunday, February 05, 2006

IMF: Zim needs comprehensive recovery package


ZIMBABWE’S economic crisis calls for an urgent implementation of a comprehensive policy package comprising of several mutually reinforcing actions, the International Monetary Fund has said. In a statement just released following the conclusion of a staff visit to the country from January 25 to February 1.

The organization said; “These include: strong fiscal adjustment; full liberalisation of the exchange rate regime for current account transactions; adoption of a strong monetary anchor; elimination of quasi-fiscal activity of the Reserve Bank of Zimbabwe and transparent absorption of these losses by the budget; and fundamental structural reform, including price deregulation, public enterprise reform, strengthening of property rights, and improvements in governance.” The organisation said in the absence of a comprehensive and immediate policy package, “Zimbabwe’s economic prospects would be bleak.”

No comments:

Free hit counters
Free hit counters