Zimbabwe should speed up currency reforms, IMF says

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People queue to withdraw money from a local bank in Harare, Zimbabwe on August 24, 2023. PHOTO | REUTERS

 The International Monetary Fund (IMF) on Wednesday encouraged Zimbabwe to speed up currency reforms at the end of a staff visit, saying authorities should move towards a market-driven exchange rate and remove distortions currently in place.

The visit discussed Zimbabwe's request for an IMF staff-monitored programme, part of the Southern African country's efforts to re-engage with the international financial community by demonstrating a track record of sound economic policies.