IMF tells government not to spend more than it is getting

The International Monetary Fund (IMF) has advised the government to live within its means to prevent the current economic problems from worsening. Speaking to the press, IMF deputy spokesperson William Murray said:

The financial sector is of particular focus at the moment, and its current difficulties in securing access to dollars have deeper, underlying causes that need to be addressed, including through financial consolidation, so that the government does not persistently spend more money than it is [getting]. And also on structural reforms to improve Zimbabwe’s competitiveness and to facilitate badly needed capital inflows.

Zimbabwe owes the World Bank US$1.4 billion, the African Development Bank US$642 million and the European Investment Bank US$294 million.

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