Zimbabwe needs new jobs plan – World Bank

via Zim needs new jobs plan – World Bank | The Source May 7, 2014

Zimbabwe urgently needs a short-term plan for job creation and to fully implement the International Monetary Fund assisted Staff Monitored Programme to rekindle its sluggish economy, a World Bank official has said.

“Zimbabwe should complete successfully the economic programme monitored by the IMF (SMP), which includes a prudent fiscal stance, strengthening financial supervision, and progress on capturing of revenues from diamonds,” World Bank country economist Nadia Piffaretti told delegates at the Sapes conference on Tuesday.

Zimbabwe began the SMP – an informal agreement which allows the IMF to monitor the government’s economic programmes — last June but requested an extension after failing to meet the December timeline.

If successful, the programme could help Zimbabwe clear over $10 billion in external debts and give it access to new credit lines from international lenders.

Zimbabwe’s unemployment rate is estimated at over 80 percent, a problem Piffaretti said should be tackled directly through policy.

“It should … adopt a short-term Economic Stability and Job Creation programme, including predictable policies to increase domestic levels of confidence,” she said.

The World Bank this month lowered Zimbabwe’s economic growth prospects to three percent from 4,2 percent, citing  low investment levels and weaker than expected growth of the mining sector and poor global environment.

 

COMMENTS

WORDPRESS: 5
  • comment-avatar
    Senzachena 8 years ago

    Before any “new jobs plan” can be implemented, get a new, honest and law abiding Government. Then we mght have a chance, slim though it may be. Mugabe and his Zanu trash must go before Zimbabwe is given any international financial assistance, otherwise all that will happen is to prolong the peoples misery until the inevitable collapse.

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    Tafadzwa 8 years ago

    It is really disappointing one person in the name of Robert Mugabe can be the cause of so much suffering. Iwe Robert chienda mhani. The man just does not know what is job creation. Up until last week, Mugabe has never opened his mouth to encourage investment. All he has been saying is threatening to impound private business in the name of empowerment. Even a semi-illiterate person will notice, it is just not possible to steal from Peter, then expect to create jobs for the thousands of school leavers.

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    Kondo 8 years ago

    ZanuPF structured answer to a cry for jobs is to advise the unemployed to set up their own companies. How low can a leader sink?

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    munzwa 8 years ago

    you want a short term plan? I’ll give you one ..get rid of the major stumbling block to unimpeded progress.. bob and his closest mates..

  • comment-avatar
    Petal 8 years ago

    Never not with those in charge!