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International Monetary Fund

This 2001 Article IV Consultation highlights that Zimbabwe’s economic crisis has continued to deepen. The deterioration has mainly been the result of inappropriate macroeconomic policies and a general breakdown in the rule of law in the context of the government’s fast-track land reform program launched in early 2000. This deterioration has undermined investor confidence, contributed to the rise in unemployment, destroyed capital, and eroded institutions important for economic development, thereby darkening the longer-term outlook. Real GDP is projected to contract by 8½ percent in 2001.