HARARE: The International Monetary Fund yesterday warned Zimbabwe’s economy remains fragile with a “precarious” level of external debt that needs to be addressed. “Zimbabwe’s fragile economic situation characterised by a growth slowdown, a large external deficit, and low international reserves,” the IMF said.
“Zimbabwe’s external position remains precarious, with usable international reserves covering less than two weeks of imports,” the Fund said in a regular “Article IV” report on the state of the economy. It urged Harare to clear its over $10bn debt, to “avoid selective debt service” and improve the business environment.
The IMF resumed its programme with Zimbabwe last year, shortly before crunch polls extended President Robert Mugabe’s 30-plus-year rule. AFP
