IMF gives warning on Zimbabwe’s economy

The IMF has warned that Zimbabwe’s economic situation remains very difficult.

The fund’s mission chief for Zimbabwe Gene Leon told Reuters news agency that immediate action was crucial to reduce the deficit, accelerate structural reforms and re-engage with the international community.

Zimbabwe was once one of Africa’s most promising economies, but suffered years of decline under former President Robert Mugabe.

Mr Mugabe resigned on Tuesday after 37 years in power following pressure from the military, the ruling Zanu-PF party and the people of Zimbabwe.

Zimbabwe’s new leader Emmerson Mnangagwa praised the people of Zimbabwe for their support in removing Robert Mugabe in his speech last night.

He told a cheering crowd that he had written to Mr Mugabe saying “the people have spoken”.

But Obert Hodzi, a Zimbabwean political analyst, told BBC Newsday that Mr Mnangagwa did not address how he would solve deep rooted problems in the country.

 

Source: BBC

Source BBC

You might also like More from author

Leave A Reply

Your email address will not be published.