Zimbabwe: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe

International Monetary Fund

No 2017/196, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2017 Article IV Consultation highlights that Zimbabwe’s economy is facing difficulties. A severe drought and slow reform momentum have led to high expenditure levels since late 2015 despite subdued revenues. With limited access to foreign inflows, the ensuing fiscal imbalances have become unsustainable, and are being financed by rising domestic borrowing. Growth in 2017 is expected to be supported by a strong performance in agriculture mainly owing to exceptional rains. However, economic activity in the medium term is projected to remain subdued, pending adjustment and reform that tackle the structural challenges and enable the economy to restore fiscal and external sustainability and achieve its growth potential.

Keywords: ISCR; CR; authority; debt; Zimbabwean authorities; current account; credit growth; shored-up government expenditure; government intervention; bank asset concentration; authorities' effort; quasi-currency instrument; IMF Zimbabwe team; Currencies; Arrears; Southern Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 81
Date: 2017-07-07
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