World Bank lauds Zimbabwe economic revival




Dr. Taufila Nyamadzabo

HARARE — THE World Bank Group (WBG) has lauded Zimbabwe for reviving its economy despite the prevalence of the coronavirus (COVID-19).

Dr Taufila Nyamadzabo, WBG Executive Director for Africa (Group 1 Constituency) said Zimbabwe’s strategies were worthy emulating.

“Zimbabwe has certainly made a lot of success compared to other countries who will probably copy the country’s strategies,” the executive said.

Nyamadzabo spoke during a meeting with Vice President, Constantino Chiwenga, in the capital Harare.

The pair discussed Zimbabwe’s re-engagement with international financial institutions after almost two decades of political and economic problems.

Nyamadzabo’s visit coincided with the Zimbabwean government announcing it had received a US$961 million Special Drawing Rights (SDR) from the International Monetary Fund (IMF).

He disclosed Zimbabwe would be able to secure major loans to steer its economic revival.

Chiwenga, who is also the health minister, said Zimbabwe was leading the continent in terms of vaccination and awareness campaigns.

“This, notwithstanding the challenges we are facing,” Chiwenga said.

Zimbabwe has confirmed 123 986 cases of COVID-19, including 4 356 deaths.

IMF projects the country’s economy to grow by more than 3 percent in 2021.

– CAJ News