Zimbabwe 2022 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Zimbabwe

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.86/5 ( download)

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Download or read book Zimbabwe: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-08 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zimbabwe experienced severe exogenous shocks (cyclone Idai, protracted drought, and the COVID-19 pandemic) during 2019-20, which along with policy missteps in 2019, led to a deep recession and high inflation. Real GDP contracted cumulatively by 11.7 percent during 2019-20 and inflation reached 837 percent (y/y) by July 2020. Reflecting good rainfall and relaxation of containment measures, real GDP rose by 6.3 percent in 2021. A tighter policy stance since mid-2020 (relative to 2019) has contributed to reducing inflation to 60.7 percent (y/y) at end-2021. However, high double-digit inflation and wide parallel foreign exchange (FX) market premia persist. The economic downturn and high inflation increased the financial system vulnerabilities. Extreme poverty has risen and about a third of the population is at risk of food insecurity. The international community seeks improvements in domestic political conditions and economic policies to initiate reengagement with Zimbabwe. The authorities have started token payments to external creditors in a bid to revive international reengagement.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1513537725
Total Pages : 125 pages
Book Rating : 4.26/5 ( download)

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Download or read book Zimbabwe written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-03-26 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation focuses on Zimbabwe’s near- and medium-term challenges and policy priorities and was prepared before COVID-19 became a global pandemic that has resulted in unprecedented strains in global trade, commodity, and financial markets. It, therefore, does not reflect the implications of these developments and related policy priorities. The outbreak has greatly amplified uncertainty and downside risks around the outlook. The IMF staff is closely monitoring the situation and will continue to work on assessing its impact and the related policy response in Zimbabwe and globally. With another poor harvest expected, growth in 2020 is projected at near zero, following a sharp contraction in 2019, with food shortages continuing. With no progress on clearing longstanding external arrears, the authorities face a difficult balance of pursuing tight monetary, to reduce very high inflation, and fiscal policies to address the macroeconomic imbalances and build confidence in the currency, while averting a crisis. Pressures are mounting to increase spending on wages and for social protection to mitigate the impact of the weather shocks and high inflation. While the 2020 budget includes a significant increase in social spending, it is likely insufficient to meet the pressing needs.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484308158
Total Pages : 81 pages
Book Rating : 4.58/5 ( download)

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Download or read book Zimbabwe written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-07-07 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author :
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.11/5 ( download)

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Download or read book Zimbabwe ... Article IV Consultation--staff Report written by and published by . This book was released on 2005 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1475568231
Total Pages : 98 pages
Book Rating : 4.33/5 ( download)

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Download or read book Zimbabwe written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-05-04 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses recent developments, outlook, and risks related to the economy of Zimbabwe. Zimbabwe’s economic difficulties have deepened. GDP growth slowed significantly to 1.1 percent in 2015, mainly because of the impact of adverse weather conditions on agricultural output, and power generation. The current account balance improved in 2015, because of lower prices for oil imports, subdued economic activity, and fiscal consolidation efforts. Fiscal performance in 2015 was better than programmed, despite the adverse macroeconomic environment. Despite spending pressures to mitigate the impact of the drought, the authorities remain committed to fiscal discipline; they target a primary cash deficit of 0.2 percent of GDP for 2016.

Author : International Monetary Fund
Publisher :
ISBN 13 : 9781484343708
Total Pages : pages
Book Rating : 4.00/5 ( download)

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Download or read book Zimbabwe written by International Monetary Fund and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498305113
Total Pages : 83 pages
Book Rating : 4.12/5 ( download)

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Download or read book Zimbabwe written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-07-11 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 Article IV Consultation highlights that economic rebound in Zimbabwe experienced since the end of hyperinflation in 2009 has now ended. After averaging 10 percent over 2009–2012, growth fell to an estimated 3.3 percent in 2013, reflecting tight liquidity conditions, election-year uncertainty, weak demand for key exports, competitiveness pressures, and the impact of adverse weather conditions. Inflation continued its downward trend from 2.9 percent (year over year) at end-2012 to ?0.3 percent in April 2014. The medium-term outlook, under the baseline scenario, is for growth to average some 4 percent, as large mining sector investments reach full capacity.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498383025
Total Pages : 83 pages
Book Rating : 4.28/5 ( download)

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Download or read book Zimbabwe written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-07-11 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 Article IV Consultation highlights that economic rebound in Zimbabwe experienced since the end of hyperinflation in 2009 has now ended. After averaging 10 percent over 2009–2012, growth fell to an estimated 3.3 percent in 2013, reflecting tight liquidity conditions, election-year uncertainty, weak demand for key exports, competitiveness pressures, and the impact of adverse weather conditions. Inflation continued its downward trend from 2.9 percent (year over year) at end-2012 to ?0.3 percent in April 2014. The medium-term outlook, under the baseline scenario, is for growth to average some 4 percent, as large mining sector investments reach full capacity.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1455207756
Total Pages : 53 pages
Book Rating : 4.56/5 ( download)

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Download or read book Zimbabwe written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-07-06 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The macroeconomic outlook for 2010 on unchanged policies is daunting. Short-term risks are skewed to the downside and the medium-term outlook is bleak in the absence of significant improvement in policies. The macroeconomic outlook could significantly improve if policies are strengthened. Counting on a significant increase in donor financing and budget revenue, the approved 2010 budget ramped up both wages and capital expenditures. The recent increase in the wage bill has significant adverse macroeconomic implications. The medium-term fiscal position is clearly unsustainable.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 111 pages
Book Rating : 4.48/5 ( download)

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Download or read book Namibia written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2022-12-14 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: Namibia has been severely hit by the COVID-19 pandemic but has started to gradually recover. After a sharp contraction in 2020, with worsening fiscal imbalances and socio-economic disparities, a modest recovery began in 2021 and strengthened in the first half of 2022. Mining activity rebounded while manufacturing and tertiary sector activities gradually started to recover. Inflationary pressures have increased, as higher international oil and food prices due to Russia’s war in Ukraine were passed-through. The political context remains stable, with elections scheduled in 2024.