IMF Team Jets In For Second SMP Talks

A team from the International Monetary Fund (IMF) is in the country for a second staff-monitored programme (SMP) that seeks to consider possibilities of opening new credit lines to Zimbabwe.

The IMF has over the years rendered technical assistance to Zimbabwe but has hitherto refused to open up lines of credit.

Minister of Finance and Economic Development, Mthuli Ncube revealed the IMF team’s arrival. Said Ncube:

They (IMF) are in the country and we anticipate that the talks will go a long way towards increasing confidence and paving way for new avenues of growth.

… We have introduced the interbank market and other forces of economic systems that we anticipate will go a long way in the revival of this economy and shape the destiny of the future.

Zimbabwe fell foul with the Bretton Woods institutions after it failed to fulfil its financial obligations resulting in the suspension of lines of credit at the turn of the millennium.

Related:

More: ZBC News Online

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.

RSS Recent Pindula Profiles

Comments

Back to top

Write a Comment

Your email address will not be published.