Zimbabwe

    The Spring meetings of the IMF and the World Bank in Washington agreed on a three-pronged strategy for Zimbabwe in the event of regime change. In the first phase, the Fund would be responsible for restoring stability to Zimbabwe’s currency, which has fallen precipitously as the country’s economic crisis has caused hyper-inflation. The IMF has put aside USD 1 billion for a currency stabilization fund. The call by Zimbabwe’s political opposition for people nationwide to stay away from work on April 15 to protest a 17-day delay in releasing the results of the presidential election largely failed to interrupt the normal flow of life in the cities. People lucky enough to have jobs in a country with 80 percent unemployment explained that they could not afford to lose a precious day?s pay by participating in the work stoppage. (The Guardian (UK), NY Times)

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