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IMF slashes Zimbabwe's growth forecast due to El Nino-induced drought

By Xinhua | Jun. 29, 2024

**Zimbabwe two-dollar notes in Harare on November 12, 2019.** [AP]

Zimbabwe's economic growth is expected to decelerate to 2 percent in 2024 from 5.3 percent last year due to the effects of an El Nino-induced drought, the International Monetary Fund (IMF) has said.

The growth, however, is expected to rebound strongly to about 6 percent in 2025, supported by a recovery in agriculture and ongoing capital projects in the manufacturing sector, the IMF said in a statement released late Thursday following the end of its staff mission to Zimbabwe.

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