The World Bank praised Zimbabwe for making tough changes to fix its economy. Eneida Fernandes leads the World Bank team there and spoke at a meeting about debt problems. She said her organization wants to give money to help the country grow. The bank will support Zimbabwe through a special program called Structured Dialogue. Three main areas need work before full help can begin.
Zimbabwe introduced a new currency called Zimbabwe Gold to control rising prices. The government stopped some banking activities that were causing money problems. Tax collection improved and the country removed rules about currency exchange rates. Finance Minister Mthuli Ncube said they need 2.5 billion dollars from sponsors to bridge funding gaps. An IMF team will visit next week to discuss a monitoring program.
The World Bank warns that economic fixes will hurt poor people the most. Government leaders must cut spending and raise taxes to create room for debt payments. A new social registry called ZISO will help target aid to people who need it most. The program covers education, health care and food security for vulnerable families. Success depends on continued commitment to all reform areas.
Zimbabwe introduced a new currency called Zimbabwe Gold to control rising prices. The government stopped some banking activities that were causing money problems. Tax collection improved and the country removed rules about currency exchange rates. Finance Minister Mthuli Ncube said they need 2.5 billion dollars from sponsors to bridge funding gaps. An IMF team will visit next week to discuss a monitoring program.
The World Bank warns that economic fixes will hurt poor people the most. Government leaders must cut spending and raise taxes to create room for debt payments. A new social registry called ZISO will help target aid to people who need it most. The program covers education, health care and food security for vulnerable families. Success depends on continued commitment to all reform areas.
