Zimbabwe : staff-monitored program-press release and staff report.

Zimbabwe : staff-monitored program-press release and staff report.

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Bibliographic Details
Imprint:	Washington, D.C. : International Monetary Fund, 2019. ©2019
Description:	1 online resource (61 pages)
Language:	English
Series:	IMF Country Report ; No. 19/144 IMF country report ; no. 19/144.
Subject:	Economic development -- Zimbabwe. Financial institutions -- Zimbabwe. Fiscal policy -- Zimbabwe. Fiscal policy. Financial institutions. Economic development. Zimbabwe.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12510169

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Other authors / contributors:	International Monetary Fund, issuing body.
ISBN:	1498317480 9781498317481 9781498317481
Notes:	Print version record.
Summary:	Zimbabwe faces deep macroeconomic imbalances. After a period of relative macroeconomic stability when hyperinflation was broken in 2008 with the move to full dollarization, the fiscal situation has deteriorated sharply since 2015. Large fiscal deficits during 2016-18, financed by the issuance of quasi-currency instruments nominally at par to the U.S. dollar, built up pressure in the dollarized economy. The fragile equilibrium was maintained by exchange controls and other restrictions on access to foreign exchange (FX).
Other form:	Print Version: Zimbabwe: Staff-Monitored Program-Press Release and Staff Report. Washington, D.C. : International Monetary Fund, 2019 9781498317481
Standard no.:	10.5089/9781498317481.002

Description
Summary:	This paper discusses the Staff-Monitored Program (SMP) for Zimbabwe and highlights that the new government that assumed office following the July 2018 elections is committed to addressing the macroeconomic imbalances, removing structural distortions to facilitate a resumption in growth, and to re-engaging with the international community including by clearing its external arrears. The SMP will be monitored on a quarterly basis and is intended to assist the authorities in building a track record of implementation of a coherent set of economic and social policies that can facilitate a return to macroeconomic stability and assist in reengagement with the international community. With limited access to external financing and the very low level of international reserves, the authorities' room for manoeuvre is very narrow. There are also significant implementation risks of the monetary and exchange rate reforms, as well as addressing governance and corruption weaknesses, which could adversely impact the attainment of SMP objectives.
Physical Description:	1 online resource (61 pages)
ISBN:	1498317480 9781498317481