Zimbabwe pledges to cut spending during IMF visit - CNBC Africa

Zimbabwe pledges to cut spending during IMF visit

Southern Africa

by Reuters 0

Zimbabwe pledges to cut spending during IMF visit. PHOTO: Wikipedia

Zimbabwe will sharply reduce its public sector wage bill and improve fiscal discipline, Finance Minister Patrick Chinamasa said on Wednesday, as he looked to reassure a visiting delegation from the International Monetary Fund (IMF).

Chinamasa said the public sector wage bill would be slashed from 82 percent of government spending currently to 52 percent of expenditure by 2019.

The IMF's head of mission to Zimbabwe Domenico Fanizza responded by saying improving fiscal discipline should be a key government priority for Zimbabwe.

Fanizza added that Zimbabwe had met all the IMF's quantitative and structural targets it had set during its visit.

 

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