MF mission heads to Zim

Harare, (New Ziana) -A team from the International Monetary Fund (IMF) is heading to Zimbabwe later this month to conduct its next routine consultative mission to assess the impact of the new currency, the Zimbabwe Gold (ZiG), among other things.
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Zimbabwe introduced the ZiG in April which is backed by gold and other precious minerals as well as a basket of foreign currencies.

IMF spokesperson, Julie Kozack said the next routine consultation mission to Zimbabwe, expected this month, will also look at the effect of the ZiG.

“On Zimbabwe, our staff is expected to conduct the Article IV consultation later this month. Part of the Article IV consultation will of course assess the entire economy as we always do, but will also be looking at the new currency, the ZIG. So article IV mission will give us an opportunity to do that,” she said, adding; “We of course stand ready to discuss these with the authorities and to support the efforts to restore macro-economic stability.”

Speaking in Kenya on the sidelines of the African Development Bank annual meeting in May this year, Finance Minister Prof Mthuli Ncube said the IMF mission would be in the country from June 18 to June 27.

“The IMF mission will be visiting the country over the period of June 18 to June 27 for Article IV consultations,” he said.

Data released by the Zimbabwe National Statistics Agency showed that monthly inflation measured for the first time in ZiG currency terms fell to 2.4 percent in May.

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