IMF sees Zimbabwe growth decline, recovery fragile


Zimbabwean growth is set to slow sharply this year and the country’s recovery from a decade-long deep economic contraction remained fragile, said the International Monetary Fund.

An IMF review of Zimbabwe’s economy projected that economic growth would drop to 5.5 percent in 2011 from 9.0 percent in 2010. It said the country was in “debt distress” with a large unsustainable external debt stock of 118 percent of gross domestic product as of the end of 2010, the bulk of which was in arrears, Reuters reports.