International Trade in Zimbabwe

International Trade in Zimbabwe

After ten years of an economic decline, when the country's economy shrank more than 50% in between 1998 and 2008 (due to poor economic management, an unorganized program of agrarian reforms and the withdrawal its financial aid sponsors), the country's growth became positive in 2009. When... Read more

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Overview About International Trade in Zimbabwe

Economic Overview

After ten years of an economic decline, when the country's economy shrank more than 50% in between 1998 and 2008 (due to poor economic management, an unorganized program of agrarian reforms and the withdrawal its financial aid sponsors), the country's growth became positive in 2009. When the national union government took office, the Zimbabwean dollar was placed aside and the "dollarization" of the economy marked an end to the hyper-inflation era and allowed the elaboration of a budget and the revival of trade and growth. After a contraction of -18.9% in 2008, the country's growth attained 5.9% in 2010 and it should remain stable.

One of the country's main challenges is to re-establish a sustainable and credible economic policy in order to reconstruct the ravaged economy. In March 2009, a short term emergency recovery program (STERP) was established by the government. Expenses must be focusing, in priority, towards infrastructures and the social sector; the banking system must be reorganized and reinforced, and structural reforms are also essential (land property security, governance of the diamonds sector, job market, etc.). 

The country's social situation is cata...

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