IMF delays Zimbabwe's expulsion

IMF delays Zimbabwe's expulsion

• IMF shelves Zim expulsion

• 'Gono inflation target achievable' - Standard Bank

• Zim inflation deeps below 450pc

• Zim reports 78pc drop in inflation

• IMF team on surveillance mission in Zim

• Makamba nabbed in corruption blitz

By Agencies

THE International Monetary Fund's board on Wednesday postponed a decision to expel Zimabwe from the global lender's ranks and called the government's efforts to halt the country's economic decline insufficient.

The IMF board began a process to expel Zimbabwe last year after the country fell into arrears on IMF payments as the economy hit its worst crisis in years, which critics blamed on President Robert Mugabe's controversial land reform policy.

The IMF board said Zimbabwe had taken initial policy steps to halt the economic decline "but concluded that these efforts remain insufficient to decisively turn around the economic situation" - Reuters
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