Zimbabwe: IMF Turns Down Assessment of GDP Outlook

Posted to the web 10 October 2008 Paul Nyakazeya THE International Monetary Fund (IMF) has declined to evaluate Zimbabwe's Gross Domestic Product outlook this year in its latest World Economic Outlook report as the country's economy continues to worsen at an alarming rate. According to the report which projected the GDP outlook of several countries, the IMF said it was not in a position to evaluate the country's GDP growth this year because of the rate the economy was declining. The Bretton Woods institute has rated Zimbabwe, whose inflation is at 231 million %, as the world's fastest shrinking economy. "IMF declined to evaluate Zimbabwe GDP growth this year," was as brief as the evaluation of Zimbabwe went. GDP is the total amount of the country's production. Due to the economic meltdown, Zimbabwe's production sector has... [read full story]