HomeBusiness DigestIMF chief says Zim needs to change course

IMF chief says Zim needs to change course

INTERNATIONAL Monetary Fund chief Rodrigo Rato said yesterday that Zimbabwe’s government needed to change course both in economic policy and in how it ran the country in general.

“We are really engaged in the future of Zimbabwe and we have been advising the aut

horities of Zimbabwe to change their course, both in macroeconomic terms and also in the respect of plurality and human rights and governance,” Rato told a press conference ahead of the IMF’s Spring meeting.

Rato said Zimbabwe was for a long period in arrears on loan repayments to the Fund and that is why its voting rights at the Fund had been suspended.

“Those arrears have been cleared but there are also issues right now regarding the consistency of data and we are working on that,” Rato said.

Rato said economic growth in sub-Saharan Africa in general was expected to be the best in 30 years at least but the region needed more aid, trade and investment along with better governance and the removal of some “impossible regulations.” — Reuter.

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