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Zimbabwe needs predictable policy to support currency, World Bank says

Zimbabwe needs predictable policy to support currency, World Bank says

ZIMBABWE needs to make its fiscal and monetary policy more predictable to instil confidence in its depreciating currency, a senior World Bank official said. It could make progress by moving away from the central bank's "quasi-fiscal operations", Victoria Kwakwa, the World Bank's Regional Vice President for Eastern and Southern Africa, told Reuters in an interview. She did not spell out what those operations were, but the International Monetary Fund said last month the central bank should reduce its non-core activities, which have included printing money and borrowing to lend to the government. The Zimbabwean dollar has lost more than 60% of…
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