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Browsing: Zimbabwe’s Fiscal policy and debt management
- The IMF forecasts that Zimbabwe’s economy will decelerate to about 2% this year, down from 5.3% in 2023, due to a severe El-Niño-induced drought.
- Declared a national disaster in April 2024, the El-Niño-induced drought in Zimbabwe has severely hit agriculture, and tourism while sparking human-wildlife conflict.
- Traditional grain suppliers Zambia and Malawi are unable to meet Zimbabwe’s needs, compelling Harare to import GMO maize from South Africa.
The International Monetary Fund (IMF) has projected that Zimbabwe economy will decelerate to about 2 percent this year, down from 5.3 percent in 2023, primarily due to a severe El-Niño-induced drought, which has adversely affected agriculture, a critical sector for the Southern African country’s economy.
Declared a national disaster in April 2024, the El-Niño-induced drought in Zimbabwe has severely depleted water sources, with Lake Kariba, one of the country’s primary water reservoirs, holding only 13 percent of its capacity. The dire situation is …