Zimbabwe: Recent Economic Developments

July 25, 1997

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Zimbabwe: Recent Economic Developments, (USA: International Monetary Fund, 1997) accessed September 20, 2024

Summary

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.

Subject: Economic sectors, Foreign exchange, Imports, Inflation, International trade, Prices, Public enterprises, Tariffs, Taxes

Keywords: Africa, Broad money, CR, Exchange rate, Financial market, Foreign exchange, Imports, Inflation, ISCR, Labor market, Monetary policy, Private sector, Public enterprises, Real GDP, Structural adjustment, Tariffs, Wage bill, Zimbabwean authorities

Publication Details

Pages:

87
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1997/059
Stock No:

1ZWEEA0011997
ISBN:

9781451841404
ISSN:

1934-7685

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