Zimbabwe:2009 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Zimbabwe

Author: International Monetary Fund

Volume/Issue: Volume 2009 Issue 139

Publication date: May 2009

ISBN: 9781451841527

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Money and Monetary Policy , International - Economics , Zimbabwean authorities , Zimbabwe dollar hyperinflation , US$ million , donor financing support , conditions in Zimbabwe , inflation expectation , low-inflation environment , Currencies , Quasi-fiscal operations , Budget planning and preparation , Africa , Global

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Summary

Economic and social indicators in Zimbabwe worsened significantly in 2008. Real GDP is estimated to have fallen by about 14 percent in 2008 owing to economic disruptions caused by hyperinflation and a further significant deterioration in the business climate. Executive Directors have welcomed the authorities’ Short-Term Emergency Recovery Program (STERP) that is based on sound principles of macroeconomic management. Directors have also underscored the importance of establishing fiscal discipline while ensuring the delivery of essential public services.