The Zimbabwe government has said it will continue working with international financial institutions (IFIs), including the International Monetary Fund (IMF) after its aborted Staff-Monitored Programme (SMP) with the Bretton Woods institution. In a wide-ranging interview, Finance minister Mthuli Ncube said it will work with IFIs to enable it to come […]
Senior finance officials in Washington say that grand corruption and state violence have to go before they resume economic cooperation with Harare In an extended mea culpa on behalf of President Emmerson Mnangagwa’s government, Finance Minister Mthuli Ncube has written to the international financial institutions (IFIs) in Washington saying it […]
By Carlos Lopes The COVID-19 pandemic cannot be classified as a surprise. Several studies, intelligence reports and epidemiologic knowledge all predicted some infectious disease caused by severe acute respiratory syndrome would likely spread around the world. The recent warnings of coronavirus type of infections had been limited in geographical range […]
The International Monetary Fund on Monday said it would provide immediate debt relief to 25 member countries under its Catastrophe Containment and Relief Trust to allow them to focus more financial resources on fighting the coronavirus pandemic. IMF Managing Director Kristalina Georgieva said the Fund’s executive board on Monday approved […]
Scheme to subsidise gold miners contributed to collapse of local dollar Secret money printing by the central bank of Zimbabwe has derailed efforts to revive the southern African nation’s stricken economy and now threatens to end IMF oversight of the government’s reform drive. President Emmerson Mnangagwa, who took power in […]
As Minister Ncube rather revealingly put it, “Zimbabwe is easily the biggest buy in Africa right now.” Whether the Zimbabwean people are quite as keen on selling out their country is another matter.
By Garry Kleiman Emerging and frontier stock markets have been battered this year, with one unusual exception: Zimbabwe’s MSCI index was up more than 200% in early October and is still up more than 90% for the year, thanks to local investors desperate to preserve the value of their savings. […]