/ 22 March 2001

IMF ?CONCERNED? AT ZIM?S DEEPENING CRISIS

THE International Monetary Fund has voiced concern about the worsening economic crisis in Zimbabwe and has offered recommendations to address the problems, the lender said on Wednesday at the end of its two week mission to Harare. “The mission expressed concern about the deepening of Zimbabwe’s economic crisis in recent months as evidenced by the depressed state of economic activity, the scarcities of fuel…the upward trend in inflation and the build up of large external payments arrears,” a statement issued on Wednesday by the IMF office in Harare said. The IMF suspended aid to Zimbabwe in 1999 after its reforms to liberalise the economy went off track, prompting most other lenders to pull out, leaving the country with little credit and practically no foreign currency. – AFP