September 26, 2019 / 2:34 PM / 8 months ago

IMF says Zimbabwe needs to intensify efforts on economic, political fronts

HARARE, Sept 26 (Reuters) - The International Monetary Fund said on Thursday that Zimbabwe needed to intensify efforts on economic and political fronts, adding that the country faced a steep economic contraction this year.

“Policy actions are urgently needed to tackle the root causes of economic instability and enable private-sector led growth,” the IMF, which visited Harare this month to review progress on a staff-monitored programme, said in a statement.

“The key challenge is to contain fiscal spending consistent with non-inflationary financing and tighten monetary policy to stabilise the exchange rate and start rebuilding confidence in the national currency.” (Reporting by MacDonald Dzirutwe; Writing by Alexander Winning; Editing by Alison Williams)

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