– 2016 Parliamentary Question to the Foreign and Commonwealth Office

The below Parliamentary question was asked by on 2016-07-18.

To ask Her Majesty’s Government, further to the Written Answer by Baroness Anelay of St Johns on 14 July (HL1012) in which they stated that the IMF noted Zimbabwe’s good progress and encouraged further reforms”

Baroness Anelay of St Johns

Following its May 2016 Article IV Consultation with Zimbabwe, the International Monetary Fund (IMF) noted that “despite the adverse environment, the authorities have reduced the fiscal deficit in both 2014 and 2015. They have started to rationalise public expenditures by implementing recommendations from the 2015 civil service audit. They are also amending the Public Financial Management and Procurement Acts. The Reserve Bank of Zimbabwe has taken measures to restore confidence in the financial sector. All banks in operations now have capital buffers above the minimum requirements”. The IMF assessment did not cover political reform.