Zimbabwe: 2004 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 297

Publication date: September 2004

ISBN: 9781451841497

$20.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Finance , Inflation , Money and Monetary Policy , ISCR , CR , RBZ paper , rate , market , inflation , year-on-year rate , liquidity management policy , foreign exchange tender , tender rate , Exchange rates , Credit , Southern Africa , Africa

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Republic of Congo : 2001 Article IV

Summary

This 2004 Article IV Consultation highlights that Zimbabwe’s real GDP declined by 9.3 percent in 2003, and an additional broad-based decline is projected in 2004. Year-over-year inflation reached 600 percent during November 2003–February 2004. However, monthly inflation, which had reached 34 percent in November 2003, fell to 5 percent in April 2004 following a tightening of monetary policy and an appreciation of the exchange rate. Progress has been limited on structural reforms. Most price controls were removed after May 2003, and the fuel market was partially liberalized.