AfDB lowers Zimbabwe's 2024 growth projection to 2% due to El Niño-induced drought, with 2025 projection at 3.5%.

African Development Bank (AfDB) lowered Zimbabwe's 2024 growth projection to 2% due to El Niño-induced drought. Southern Africa's growth projection is 2.2% in 2022 and 2.7% in 2025. AfDB reduced Zimbabwe's 2025 projection by 0.1% to 3.5%, with inflation projected at 24.9% in 2024. The bank emphasized debt restructuring and arrears clearance as prerequisites for Zimbabwe's structural transformation.

May 31, 2024
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