Zimbabwe: Economic distress deepens

Harare has made an urgent appeal to South Africa to finalize a loan agreement under discussion and release funds amid reports that Zimbabwe’s economic crisis has only deepened with the government’s payment of $120 million in scarce hard currency to the International Monetary Fund to stave off the loss of membership. A senior official at the Reserve Bank of Zimbabwe said the country desperately needs an infusion of hard currency to purchase fuel, food, and essential inputs for agriculture and manufacturing.