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- Create Date December 8, 2023
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Zimbabwe’s economy has had a mixed recovery from the global shocks caused by the COVID-19 pandemic in 2020 and the Russia-Ukraine conflict in 2022. The Reserve Bank of Zimbabwe (RBZ) does not have an explicit inflation target and its central monetary policy target is maintaining the price and financial system stability. The Government of Zimbabwe has followed procyclical fiscal policy by reducing government spending during economic downturn and increasing public spending during economic recovery. Zimbabwe’s external sector has had a mixed recovery from the COVID-19 pandemic in 2020 and has not benefited from the higher commodity prices in the aftermath of the Russia-Ukraine conflict in 2022. Zimbabwe held its most recent presidential elections in August 2023. Zimbabwe is at a crossroads. Read more accurate and balanced analysis of the political economy in Zimbabwe here: https://politicaleconomy.org.za/2023/12/pesa-editorial-on-zimbabwe-1h2023-24/.
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