Zimbabwe Informational Site

THE International Monetary Fund (IMF) says Zimbabwe requires a comprehensive policy package to retrieve the economy from the woods, instead of seeking salvation in bond notes.

IMF African Department director, Abebe Aemro Selassie told journalists on Sunday that a holistic package of reforms was needed to get Zimbabwe out of the crisis.

“There’s a limited amount of foreign exchange inflows coming in and no monetary policy tool. So, they are in a difficult circumstance right now. We think that, going down this one [bond] note route, in and on itself, will not address the challenges that the country has.

So, it’s very important to have a more comprehensive policy package, which also addresses a lot of the fiscal challenges that the country faces, a lot of the structural reforms that have to be done,” he said.

Selassie had been asked to comment on the bond note concept.

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