Online Reporter
Joseph Madzimure
Zimpapers Politics Hub
THE International Monetary Fund (IMF) has commended the ZANU PF-led Government’s tight monetary policy stance, which has resulted in inflation and exchange rate stability since April this year, and projected a strong economic rebound, anchored by improved agriculture performance and ongoing capital projects in the manufacturing sector.
Speaking at a meeting with Politburo members at ZANU PF Headquarters yesterday, IMF Head of Mission in Zimbabwe, Mr Wojciech Maliszewski, said the Government was making progress towards economic stability.
Mr Maliszewski commended the setting up of Mutapa Investment Fund (MIF), saying it was a positive development towards the growth of the economy.
“There has been tremendous progress on the monetary side of things compared to the last two years we have been here. Efforts by the Reserve Bank of Zimbabwe towards making ZiG a national currency are commendable. Revenues are stronger compared to previous years. The establishment of Mutapa Investment Fund, we see a lot of positives and consolidating management function, and it is a positive development,” said Mr Maliszewski.
The IMF team requested the meeting to tap into the views of the ruling party as an important element in the economy.
ZANU PF Politburo members took turns to clarify a number of issues while stressing that illegal economic sanctions continued to slow the growth of the economy.
The ruling party’s secretary for Economic Affairs, Lieutenant-General Engelbert Rugeje (Retired) hailed the IMF team for recognising ZANU PF as an important player in the economy.
“Zimbabwe’s economy is poised for growth this year, though we have been affected by drought from last season and low electricity generation, but the economic outlook is positive,” he said.
ZANU PF secretary for Legal Affairs Cde Patrick Chinamasa said illegal sanctions imposed on Zimbabwe had affected the country, but the economy had remained resilient.
“Despite the existence of illegal sanctions, Zimbabwe has done extremely well, and the Mutapa Investment Fund has been the best decision ever,” he said.
The party’s spokesperson, Ambassador Christopher Mutsvangwa, said: “We are in a new era, and the IMF is a technical organisation; your technical proficiency is not doubted.”
