Articles tagged 'world bank'

World Bank waits on Mthuli Ncube 22 November 2018 HARARE - The World Bank (WB) says Finance minister Mthuli Ncube, should announce measures that inspire confidence and support current efforts to revive the economy when he presents his maiden budget statement today. Mukami Kariuki, the WB country manager for Zimbabwe said Ncube has already hig...
'ED must walk the talk on reforms' 13 January 2018 HARARE - European Union Ambassador Philippe Van Damme said the President Emmerson Mnangagwa administration needs to start walking the talk on implementing reforms for the country to open up to investment opportunities. He said without full policy change and implementation of promised reforms, ...
Chinamasa recalled from IMF, World Bank meetings 13 October 2017 HARARE - President Robert Mugabe demoted former Finance minister Patrick Chinamasa while he was in Washington attending an annual global meeting of Finance ministers and central bankers organised by the International Monetary Fund (IMF) and World Bank. Chinamasa, who was demoted to the ministr...
Gambian team in Zim health study tour 7 September 2017 HARARE - A 19-member Gambian team is on a study tour of Zimbabwe's famed World Bank supported results-based financing (RBF) for rural clinics. The Gambian team consists of permanent secretaries, health directors, evaluators and information specialists. They are studying the programme — whic...
'Zim to miss gold target' 28 June 2017 HARARE - The World Bank has forecasted that Zimbabwe will miss its ambitious 28-tonne gold production for this year, putting a dent on the country's economic revival prospects. This comes as Zimbabwe, which produced 23 tonnes of the yellow metal and earned over $914 million in export receipts ...
Zim's public debt rises to $11,6bn 26 June 2017 HARARE - Zimbabwe's economy remains fragile with a “precarious” level of public debt during the year to March rising to over $11 billion, the Parliament Budget Office said in its latest report. Zimbabwe's domestic debt rose 40 percent to $4,3 billion, with external debt standing at $7,5 billio...
Slash public sector wage bill: World Bank 25 June 2017 OUR Deputy Business Editor, Ndakaziva Majaka, talks to World Bank's (WB) outgoing country manager, Camille Nuamah, whose tour of duty ran from June 2014. NUamah will be succeeded by WB's sector manager for Urban Development and Services in East and Southern Africa, Rosemary Mukami Kariuki, who...
Zim agriculture production to decline 22 June 2017 HARARE - Zimbabwe's agricultural production is expected to significantly decline in the next two years due to changing weather patterns and lack of strong economic policies. In its 2017 Zimbabwe Economic Update released yesterday, the World Bank (WB) said the country's economic growth will als...
Clearing World Bank arrears irresponsible: Biti 1 May 2017 HARARE - Finance minister Patrick Chinamasa's planned move to pay $1,1 billion towards settling Zimbabwe's World Bank dues is “criminally irresponsible and treasonous”, former Finance minister Tendai Biti has said. He said the intended payment will be made on the back of a moribund economy cha...
Zim's frayed theatre of reform 30 April 2017 HARARE - Impoverished Zimbabwe must clear $1,8 billion of debt arrears to the World Bank (WB) and the African Development Bank (AfDB) before the banks can start lending to President Robert Mugabe's government, economists have said. This comes after Singaporean global commodities firm, Trafigur...
Zim must pay its debt 20 March 2017 HARARE - Reserve Bank of Zimbabwe governor John Mangudya over the weekend reiterated the country's commitment to repay its external debts. “Zimbabwe owes many people money and we owe it to pay everyone; there is no favouritism. If you borrow money from the World Bank, you need to pay the World...
French firm wins $300m Kariba Dam contract 15 February 2017 HARARE - A French company — Razel BEC — has been granted a $300 million contract to rehabilitate the Kariba plunge pool and flood gates in order to stop the dam's wall from collapsing. The project — funded by the European Union, World Bank, African Development Bank, the Swedish government and ...
'World Bank offside on Zim' 17 January 2017 HARARE - The World Bank's prediction that Zimbabwe's economy will grow by 3,8 percent this year is not only incorrect but also misleading, economic experts have said. This comes as the Bretton Woods institution in its Global Economic Prospects report titled “Weak Investment in Uncertain Times”...
Zim not due for credit lines: Chinamasa 24 November 2016 HARARE - Zimbabwe will not get funding from international lending institutions until it clears all its debts with creditors including the World Bank and the African Development Bank (AfDB), Finance minister Patrick Chinamasa has said. There was hope in President Robert Mugabe's cash-strapped g...
Zim intensifies anti-fraud fight 11 October 2016 HARARE - Zimbabwe is intensifying its fight against white collar crimes as part of strategies to improve the ease of doing business and lure foreign investors. President Robert Mugabe last week said the country would soon merge the small claims court, commercial court and High Court in a move ...
Zim economy dying - World Bank 11 October 2016 HARARE - The World Bank has confirmed that Zimbabwe's economy is dying, downgrading the country from its list of improved economies to the unflattering tier of struggling countries, as Harare's political and economic turmoil continues to escalate. In its latest publication titled Africa's Puls...
World Bank snubs Mugabe govt 29 September 2016 HARARE - The World Bank (WB) has assured Zimbabwean activist Patson Dzamara that it has no intention of bailing out President Robert Mugabe's government by extending money to his administration. This was in the aftermath of Dzamara having petitioned the WB during his recent visit to the United...
Zim, a nation of debtors 18 September 2016 HARARE - Zimbabwe, which owes multilateral institutions over $10 billion, is sinking beneath a tide of debt. A spate of recent reports have revealed how perilously close to the edge many are. In a nation where as many as 70 percent of people live on less than a $1 a day, according to the Un...
Mugabe makes Chinamasa job harder 7 August 2016 HARARE - While Finance minister Patrick Chinamasa (pictured) is going around the West with a begging bowl, to try and rescue Zimbabwe out of a monetary crisis,  back home his boss President Robert Mugabe is singing an entirely different hymn biting the hand that is supposed to help his nation. ...
Mugabe stumbling block to Zim revival 24 July 2016 HARARE - As Finance minister Patrick Chinamasa runs around to secure $1,8 billion to clear the country's arrears to multi-lateral lenders, most experts have remained sceptical, arguing Zimbabwe's problems can only end with leadership change. In an effort that has been described as futile by mo...
Mugabe turns on his own 26 June 2016 HARARE - At a time when everyone is agreed that life in Zimbabwe is bad and there is need to re-engage with other countries, President Robert Mugabe is actually thumbing his nose at the West, something that both his friends and foes say is a sign that the 92-year-old has lost his marbles. Just...
Zim leaders must be pragmatic 24 June 2016 HARARE - Finance minister Patrick Chinamasa's appeal to Zimbabweans to set aside their differences as part of efforts to attract investors from across the world is commendable and encouraging. It is unusual to get such a pragmatic approach from the inner circle of  President Robert Mugabe's Za...
Zim's new debt plan welcome 28 April 2016 HARARE - Zimbabwe's plan to unveil a new debt strategy aimed at reducing the country's $10 billion external debt is not only commendable but is also a prerequisite for the country to access new financing in order to meaningfully contribute towards the attainment of accelerated, inclusive and sust...
Zim to remain in deflation: WB 13 April 2016 HARARE - The World Bank says Zimbabwe will remain in deflation this year due to low aggregate demand in the country. In its World Economic Outlook report released yesterday, the Bretton Woods institution noted that the country, which is facing one of its worst droughts in 20 years due to El Ni...
World Bank predicts gloomy outlook for Zim 12 February 2016 HARARE - The World Bank has predicted a gloomy economic outlook for Zimbabwe, showing the depth of a recession fuelled by a liquidity crunch and a sputtering agriculture-dependent economy dented by a devastating drought. The World Bank said the economy is again forecast to perform abysmally in...