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

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 120 pages
File Size : 47,5 Mb
Release : 2022-04-08
Category : Business & Economics
ISBN : 9798400209086

Get Book

Zimbabwe: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe by International Monetary,International Monetary Fund. African Dept. Pdf

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
Page : 125 pages
File Size : 49,7 Mb
Release : 2020-03-26
Category : Business & Economics
ISBN : 9781513537726

Get Book

Zimbabwe by International Monetary Fund. African Dept. Pdf

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
Page : 81 pages
File Size : 40,5 Mb
Release : 2017-07-07
Category : Business & Economics
ISBN : 9781484308158

Get Book

Zimbabwe by International Monetary Fund. African Dept. Pdf

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 : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 98 pages
File Size : 47,5 Mb
Release : 2016-05-04
Category : Business & Economics
ISBN : 9781475568233

Get Book

Zimbabwe by International Monetary Fund. African Dept. Pdf

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. African Dept.
Publisher : International Monetary Fund
Page : 83 pages
File Size : 41,5 Mb
Release : 2014-07-11
Category : Business & Economics
ISBN : 9781498383028

Get Book

Zimbabwe by International Monetary Fund. African Dept. Pdf

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 : Unknown
Page : 128 pages
File Size : 50,8 Mb
Release : 2016
Category : Economic development
ISBN : 1484343700

Get Book

Zimbabwe by International Monetary Fund Pdf

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 53 pages
File Size : 46,5 Mb
Release : 2010-07-06
Category : Business & Economics
ISBN : 9781455207756

Get Book

Zimbabwe by International Monetary Fund Pdf

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
Page : 98 pages
File Size : 50,5 Mb
Release : 2022-07-29
Category : Business & Economics
ISBN : 9798400219122

Get Book

Burundi by International Monetary Fund. African Dept. Pdf

Burundi’s economy has shown resilience to the COVID-19 and Ukraine war shocks. Prior to the pandemic, the economy was recovering from the political and security crisis that followed late President Nkurunziza’s decision to run for a third term in 2015, with growth close to 2 percent in 2019. Difficult macroeconomic policy challenges persisted, nevertheless. The pandemic has taken a toll on the post-conflict fragile country, but COVID-19 contagion remained fairly contained and growth was positive. The war in Ukraine is compounding the adverse effects of the pandemic, with deteriorating terms of trade and the resulting domestic inflation threatening already-challenging living standards. Sanctions from the U.S. and E.U.—legacy of the 2015 crisis—have now been lifted. The U.N. Security Council ended mandatory reporting in Burundi and the country has reengaged with the international community. The 2022 Article IV consultation seals the full reengagement with the IMF—the last one was concluded in 2014.

Author : International Monetary Fund. African Dept.
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 54,5 Mb
Release : 2014-07-11
Category : Business & Economics
ISBN : 1498383025

Get Book

Zimbabwe by International Monetary Fund. African Dept. Pdf

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
Page : 95 pages
File Size : 46,6 Mb
Release : 2011-06-14
Category : Business & Economics
ISBN : 9781455271481

Get Book

Zimbabwe by International Monetary Fund Pdf

Stronger policies, favorable external environment, and notable improvement in the humanitarian situation supported a nascent economic recovery in Zimbabwe. Executive Directors welcomed this, and urged authorities to take advantage of the favorable external environment to strengthen their macroeconomic framework. They stressed the need to strengthen the fiscal position and expressed concern about rising vulnerabilities in the banking system. They welcomed the authorities strategy for arrears clearance. Directors agreed that the Staff Monitored Program (SMP) would help establish a track record of sound policies, and encouraged the authorities to continue timely data reporting.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 111 pages
File Size : 42,7 Mb
Release : 2022-12-14
Category : Business & Economics
ISBN : 9798400225048

Get Book

Namibia by International Monetary Fund. African Dept. Pdf

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.

Author : Anonim
Publisher : Unknown
Page : 72 pages
File Size : 50,9 Mb
Release : 2005
Category : Zimbabwe
ISBN : STANFORD:36105122070811

Get Book

Zimbabwe ... Article IV Consultation--staff Report by Anonim Pdf

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 66 pages
File Size : 50,5 Mb
Release : 2005-10-04
Category : Business & Economics
ISBN : 9781451841510

Get Book

Zimbabwe by International Monetary Fund Pdf

This 2005 Article IV Consultation highlights that Zimbabwe’s pace of economic deterioration slowed somewhat in 2004, but appears to have picked up again in the first half of 2005. IMF staff estimates that real GDP fell by about 4 percent in 2004, compared with a contraction of 101⁄2 percent the preceding year. Monetary policy has been tightened, but not consistently. Overnight interest rates were raised sharply in early 2004 and lowered subsequently as inflation declined, with real interest rates maintained at high levels for most of the year.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 49 pages
File Size : 49,8 Mb
Release : 2009-05-11
Category : Business & Economics
ISBN : 9781451841527

Get Book

Zimbabwe by International Monetary Fund Pdf

Economic and social indicators in Zimbabwe worsened significantly in 2008. Real GDP is estimated to have fallen by about 14 percent in 2008 owing to economic disruptions caused by hyperinflation and a further significant deterioration in the business climate. Executive Directors have welcomed the authorities’ Short-Term Emergency Recovery Program (STERP) that is based on sound principles of macroeconomic management. Directors have also underscored the importance of establishing fiscal discipline while ensuring the delivery of essential public services.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 92 pages
File Size : 50,5 Mb
Release : 2018-03-07
Category : Business & Economics
ISBN : 9781484345603

Get Book

Republic of Mozambique by International Monetary Fund. African Dept. Pdf

This 2017 Article IV Consultation highlights that growth in Mozambique decelerated in 2016 to 3.8 percent (from 6.6 percent in 2015). The latest data show that the economy grew by 3.7 percent in 2017, driven by a recovery in agriculture and mining activity. A tight monetary stance, coupled with exchange rate appreciation, led to a steep fall in inflation to 6.3 percent (year-over-year) in January 2018, from a peak of 26 percent in November 2016. The outlook remains challenging. Absent further policy action, real GDP growth is expected to further decline over time while inflation would remain at current levels. The fiscal deficit would expand, leading to further accumulation of public debt and crowding out of the private sector.