IMF flags concern over Reserve Bank of Zimbabwe’s governance

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IMF directors on Tuesday expressed concern over perpetually poor governance at the Reserve Bank of Zimbabwe following consultations with officials in the African state last week.

In its Article IV consultation, the IMF said "serious governance problems" remained at the Reserve Bank due to "weak" accounting and internal controls noting that the institution had "no approved budget" in 2009 for operations in the country.

The IMF noted the Reserve Bank's arrears on operating expenses had increased

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