World Economy

Zimbabwe Growth Lowered

Zimbabwe Growth LoweredZimbabwe Growth Lowered

The International Monetary Fund on Wednesday lowered Zimbabwe’s growth forecast for this year to 1.5% from 2.8%, blaming lower commodity exports, Reuters reported. “We expect a slowdown in economic activity as a result of drought as well as low prices for Zimbabwe’s exports,” the IMF head of mission Domenico Fanizza said. Zimbabwe has been struggling for five years to recover from a catastrophic recession that was marked by billion percent hyperinflation and widespread food shortages, and some analysts say Zimbabwe could tip back into a downturn this year.