Zimbabwe: Staff Report for the 2016 Article IV Consultation and the Third Review of the Staff-Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe
May 4, 2016
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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.
Subject: Arrears, Banking, External debt, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM)
Keywords: Africa, Arrears, authorities' strategy, authority, Central Africa, CR, demonstrated commitment, development partner, Global, ISCR, Public and publicly-guaranteed external debt, Southern Africa, Sub-Saharan Africa, Zimbabwe, Zimbabwe economy, Zimbabwean authorities
Pages:
98
Volume:
2016
DOI:
Issue:
109
Series:
Country Report No. 2016/109
Stock No:
1ZWEEA2016001
ISBN:
9781475568233
ISSN:
1934-7685
