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Mwonzora defends IMF’s 6 percent growth forecast for Zimbabwe

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  • “The IMF assessment of the economic rebound is spot on. The IMF staff team led by Mr (Dhaneshwar) Ghura have done proper due diligence on the Zimbabwean economy and I am encouraged by the economic turnaround which is palpable. I urge Government to stay on the reform course and continue to deepen macroeconomic and structural reforms..."

THE MDC-T led by Douglas Mwonzora says the 6 percent economic growth forecast by International Monetary Fund (IMF) for Zimbabwe this year is accurate as seen by the ‘palpable’ economic turnaround achieved so far, and called for the West to lift sanctions against Zimbabwe.

The IMF last month said its data showed a 6% growth in the Zimbabwean economy backed by improved business policies, a bumper harvest and a more stable macroeconomic environment. Also last month, Mukami Kariuki, who heads the World Bank in Zimbabwe, said the Zimbabwean economy could recover faster depending on how the pandemic and regional economy perform but said her organization put the growth rate at just below 4%.

“Zimbabwe’s economy is expected to grow faster than its neighbours, rising from 3.9% in 2021 to 5.1% in 2022,” Kariuki said. “By comparison, the average growth rate for sub-Saharan Africa in 2021 is 2.8%.”

The Government expects growth to top 7,4 percent.

All these projections have drawn anger from the MDC Alliance led by Nelson Chamisa, with Chamisa’s deputy Tendai Biti lashing out at the IMF saying they were supporting tyranny.

But yesterday, MDC-T treasurer-general Dr Tapiwa Mashakada described the 6 percent economic growth forecast by International Monetary Fund (IMF) for Zimbabwe this year as “spot on”, and implored the United States, Britain and the European Union to lift sanctions on Harare.

The Government, he said, has done well to weather the fallout from Cyclone Idai in March 2019 and the current coronavirus pandemic.

“The IMF assessment of the economic rebound is spot on. The IMF staff team led by Mr (Dhaneshwar) Ghura have done proper due diligence on the Zimbabwean economy and I am encouraged by the economic turnaround which is palpable. I urge Government to stay on the reform course and continue to deepen macroeconomic and structural reforms,” said Dr Mashakada in a statement.

“I want to take this opportunity to urge the international community to unconditionally lift the economic embargo imposed on Zimbabwe in order to allow the country to move forward unencumbered or hamstrung by these restrictive measures.

“Furthermore, I plead for a social contract between business, labour and civil society to ensure that the prevailing economic recovery is irreversible. Economic policies must empower youth and women.”

Via
Sunday Mail
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