Cape Times

‘No easy fixes to Zim debt crisis’


The Internatio­nal Monetary Fund said yesterday that it would be at least three years before Zimbabwe could start accessing loans from lenders, and needs to deepen economic reforms in the medium term to strengthen its ability to repay debt.

Domenico Fanizza, head of a visiting IMF mission, said there were no quick and easy fixes to Zimbabwe’s recovery.

The once promising southern African nation owes foreign creditors $9 billion (R123.7bn) and has been struggling for five years to recover from a catastroph­ic recession that sent hyperinfla­tion into billions amid widespread food shortages.

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