Zimbabwe: Recent Economic Developments

International Monetary Fund

No 1997/059, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reports economic developments in Zimbabwe during the 1990s. In 1991, the government officially launched its comprehensive Economic and Structural Adjustment Program—covering fiscal years 1991 through 1995—to strengthen growth and employment prospect. Despite the success achieved in carrying out a number of structural reforms, persistently large budget deficits presented a serious impediment to growth. The failure to bring the government budget under control was reflected in high levels of spending, which contributed to an uncompetitive exchange rate and necessitated excessive borrowing and high real interest rates.

Keywords: ISCR; CR; structural adjustment; exchange rate; private sector; monetary policy; real GDP; Zimbabwean authorities; labor market; foreign exchange; wage bill; financial market; broad money; Tariffs; Imports; Public enterprises; Inflation; Africa (search for similar items in EconPapers)
Pages: 87
Date: 1997-07-25
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