Zimbabwe Economic Policy Dialogue

In past four years, the World Bank, in
close cooperation with the Government of Zimbabwe, and the
support of international partners - has carried out a number
of studies and technical assistance activities in key areas
of the socio-economic recovery. In line with Bank’s Africa
strategy of fostering Africa’s economic transformation and
poverty reduction, the overall goal of these studies has
been to support broad-based development of Zimbabwe by
facilitating evidence-based debate and policy-making. As a
new government for 2013-2018 is about to take function,
sectoral teams at the World Bank have distilled key analysis
from those studies, and prepared the short policy notes. The
policy notes attempt to summarize the main findings,
challenges, constraints, and lay out policy options. While
the past decade of hyperinflation and weak economic
management has undoubtedly eroded a significant share of
Zimbabwes physical and human capital, these can be rebuilt
with the combination of sound economic policy and proper
incentives to private sector investors, both domestic and
foreign. It is therefore imperative that, however
policymakers choose to proceed with regard to the future
direction of the economy, they deliver well-articulated,
credible, and stable economic policies. Such policies will
enable and unleash the creative energies and entrepreneurial
spirit of the private sector, the one that has delivered so
often in the past. The policy note highlights the breadth
and complexity of challenges in fostering long-term
development. Addressing these challenges is a long haul task
that will require a good sense of overarching priorities, as
well as strong commitment to long-term objectives and policy consistency.