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GDP growth less than 2 percent in 1999

Zimbabwe's Standard Chartered Bank said on Wednesday that the country's economy was expected to grow by less than 2 percent this year. In its latest monthly report on business trends in Zimbabwe the bank said: "Prevailing high interest rates and economic uncertainty would depress investment, while the balance of payments position remained fragile with continued delays by the International Monetary Fund to release much needed
support."

It added that due to heavy rains in many parts of the country agricultural output was unlikely to grow very much, whilst the mining sector would remain depressed because of a slump in international commodity prices.


This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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