Reserve Bank of Zimbabwe - Annual Report 2004

The Reserve Bank of Zimbabwe's Annual Report 2004 notes the urgent need to address the serious macro-economic imbalances, which had permeated the economy.

Inflation, the country's number one enemy, which had risen to a peak of 622.8% in January 2004, was gradually reduced to 133% by year-end.

Exports rose by about 1% in 2004, while imports grew by close to 12%, largely due to the improved macro-economic environment.

Improvement in the Balance of Payments, was predicated on availability of foreign

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