World Economy

Zimbabwe Growth Slows

Zimbabwe Growth SlowsZimbabwe Growth Slows

Zimbabwe’s economy is expected to weaken further this year after growing by 3.1% in 2014, the International Monetary Fund said, while the Zimbabwean finance minister said Harare expects to clear its arrears to the fund in the next year, Reuters reported. The government forecasts growth this year of 3.2%, but analysts say weak commodity prices, patchy rainfall this season and company closures as a result of cheap imports and high interest rates will curtail the economy’s growth. “Growth has slowed down and we expect it to weaken further in 2015,” said Domenico Fanizza, head of an IMF review team.