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Muñoz, Sònia.

Central Bank Quasi-Fiscal Losses and High Inflation in Zimbabwe A Note / Sònia Muñoz. [electronic resource] : Sònia Muñoz. - Washington, D.C. : International Monetary Fund, 2007. - 1 online resource (20 p.) - IMF Working Papers; Working Paper ; No. 07/98 . - IMF Working Papers; Working Paper ; No. 07/98 .

Zimbabwe's failure to address continuing central bank quasi-fiscal losses has interfered with both monetary management and the independence and credibility of the Reserve Bank of Zimbabwe (RBZ). Realized quasi-fiscal losses are estimated to have amounted to about 75 percent of GDP in 2006. Because they were financed by creating money creation or issuing RBZ securities, they contributed to the four-digit inflation reached in 2006. The remedy for the current situation is clearly to eliminate the causes of losses by implementing measures to improve the cash-flow of the bank and restore its financial position.

ISBN: 1451866623 : 18.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781451866629.001 doi

Subjects--Topical Terms:
Central Bank
High Inflation
Monetary Fund
National Deficit Surplus
Open Market Operations
Quasi-Fiscal Deficit

Subjects--Geographic Terms:
Zimbabwe