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Donor aid key to recovery - minister

    JOHANNESBURG

    Zimbabwe’s new minister for trade and industry, Nkosana Moyo told Reuters in an interview that his main priority was to regain the confidence of his western donors.

    He said that Zimbabwe would not be able to reverse the economic decline without the resumption of suspended aid. “We have got to find a way of working with the IMF in whatever format because I don’t think we have the resources now to kick-start this economy without doing that. That is absolutely critical and urgent,” he said. He added that the new government would have to move fast to address the foreign currency crisis and extremely high interest rates which was stifling private sector growth.

    Moyo also said that he hoped that the new cabinet would make the resumption of aid a priority at its first meeting on Tuesday. An IMF team is expected to visit Zimbabwe in early August for talks on how to restart the stalled aid programme.

    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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