Wednesday, May 26, 2010

Zimbabwe: Economy Grows, but Future Is Uncertain

Published: May 25, 2010
After a decade of economic decline and hyperinflation, Zimbabwe’s economy grew about 4 percent last year, consumer prices fell about 8 percent, and bank deposits tripled, the International Monetary Fund reported Tuesday. But the I.M.F. characterized the outlook for this year as “highly uncertain.” President Robert Mugabe’s insistence on some local ownership of companies has slowed foreign investment, while higher wages for civil servants have consumed a growing share of the still limited public spending.

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