Reserve Bank of Zimbabwe governor John Mangudya and finance and economic development minister Mthuli Ncube at the Monetary Policy Statement presentation in Harare Monday. Photo: ANA reporter

INTERNATIONAL – Zimbabwe’s economy will grow faster than expected in 2018, from an estimate of 4.5 percent to 5 percent, the central bank said on Monday as the new government implements reforms to kick-start growth that has languished for more than two decades.

Reserve Bank Governor John Mangudya, in his first post-election monetary policy statement, said rebalancing the economy would require “painful measures”.

He announced a plan to separate local and foreign currency bank accounts and a new tax on goods trucks as part of measures to ease the shortage of US dollars since the country dumped its own currency in 2009.