Zimbabwe: 2005 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of Zimbabwe
October 4, 2005
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This 2005 Article IV Consultation highlights that Zimbabwe’s pace of economic deterioration slowed somewhat in 2004, but appears to have picked up again in the first half of 2005. IMF staff estimates that real GDP fell by about 4 percent in 2004, compared with a contraction of 10½ percent the preceding year. Monetary policy has been tightened, but not consistently. Overnight interest rates were raised sharply in early 2004 and lowered subsequently as inflation declined, with real interest rates maintained at high levels for most of the year.
Subject: Contingent liabilities, Exchange rate arrangements, Exchange rates, External debt, Foreign exchange, Inflation, Monetary base, Money, Prices
Keywords: broad money, CR, exchange rate, Exchange rates, Global, government, government assets, government of Zimbabwe, IMF staff mission, Inflation, ISCR, land reform reform program, Monetary base, monetary policy, priority government payment, Southern Africa, triple-digit inflation, Zimbabwean authorities
Pages:
66
Volume:
2005
DOI:
Issue:
360
Series:
Country Report No. 2005/360
Stock No:
1ZWEEA2005002
ISBN:
9781451841510
ISSN:
1934-7685
