Zimbabwe is facing a huge economic challenge and the International Monetary Fund (IMF) has warned that the troubled country must seek financial aid and undergo economic reforms quickly.
Government spending and foreign debt are too high and it needs structural reform, Zimbabwe mission chief Gene Leon told Reuters news agency.
Emmerson Mnangagwa, the country’s incoming leader, has pledged to grow the economy and provide jobs.
Zimbabwe’s economy is half the size it was at the turn of the millennium.
The once-thriving economy is now seen as a regional basket case.
The 93-year-old Robert Mugabe, who led Zimbabwe for 37 years, was forced to step down over the past week by the military and his own Zanu-PF party.
Yvad Billings, Readers Bureau, Fellow
Edited by Jesus Chan
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