Finance General News

Finance Minister of Zimbabwe departs from Harare to attend the IMF Meeting

FILE PHOTO: Zimbabwean Finance Minister Mthuli Ncube looks on before the swearing in of new cabinet ministers at State House in Harare, Zimbabwe, September 10, 2018. REUTERS/Philimon Bulawayo/File Photo

Earlier on Saturday, October 6th Mthuli Ncube, the Finance minister of Zimbabwe, left Harare for his trip to Indonesia where he is set to attend meetings of the World Bank and the International Monetary Fund.

In a statement, Patrick Taluzawi, an aide to the minister said, “A high-level meeting of World Bank and IMF which is organized in Bali, Indonesia, will be attended by the minister, both meetings will go on from the 10th to the 15th of October.”

Taluzawi further said, ” For a brief period he (Ncube) will make a visit to London where he will take part in the Africa Summit, hosted by The Financial Times.”

At the launch of the Transitional Stabilisation Programme (TSP) on Friday, October 5th, Ncube made a brief claim saying that he would take this opportunity presented by the Bali meeting to present the reforms being initiated in Zimbabwe in front of global financiers.

In a recent press briefing, Gerry Price, IMF’s Communications Director, stated that before requesting for any assistance there are critical steps which Harare must undertake.

According to Gerry Rice, “In regards to the news that Britain would be supporting Zimbabwe, for the country to receive an interim IMF program that will help the country clear its foreign arrears quickly.”

The Communications Director of IMF then said, “In my opinion, the new administration of President Mnangagwa, shows commitment to strong economic reforms and also supports reforms, however, it would require financial support from the international community and also a structural reform programme and comprehensive stabilization from the authorities.”