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The International Monetary Fund (IMF) announced at the weekend that it will not resume its budgetary support programme to Zimbabwe until the government of President Robert Mugabe adheres to economic reforms to kick-start economic growth and reduce poverty levels, the IMF said in a statement.
Following a week-long visit by IMF's officials to Zimbabwe, the fund said it had advised the government that a reduction in state spending was vital to reduce the country's budget deficit and meet other reform targets.
The IMF last year withdrew its balance of payments support over what it called deviations by the government on economic reforms, including the failure to curb inflation that rose to 70 percent. The IMF's latest stance worsens Zimbabwe's woes, which is experiencing a fuel crisis because of the shortages of foreign currency that has hampered its ability to pay its fuel
and electricity suppliers.
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