Zimbabwe’s bond notes are ‘exacerbating’ economic fragility, IMF says

Zimbabwe bond note
Zimbabwe's government has introduced capital controls in response to the currency crisis

Directors at the International Monetary Fund (IMF) have stressed the need for the Zimbabwean authorities to “restore credibility of the currency regime”, following their chaotic response to the country’s dollar shortage.

In a statement published on July 7, following the conclusion of its Article IV consultation with the troubled African nation, fund directors noted financial sector fragility had increased despite private sector credit growth remaining subdued.

“The extensive use of quasi‑curre

To continue reading...