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Central Bank Quasi-Fiscal Losses and High Inflation in Zimbabwe A Note

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. Beca...

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Bibliographic Details
Main Author: Muñoz, Sònia
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2007
Series:IMF Working Papers
Subjects:
Depository Institutions
Inflation
Public Administration
Credit
Banks
Banks And Banking
Financial Statements
Currency; Foreign Exchange
Deflation
National Deficit Surplus
Open Market Operations
Micro Finance Institutions
Mortgages
Banks And Banking, Central
Central Banks
Foreign Exchange
Price Level
Accounting
Finance, Public; Accounting
Public Sector Accounting And Audits
Money Supply
Prices
Macroeconomics
Public Financial Management (pfm)
Banking
Financial Reporting, Financial Statements
Central Banks And Their Policies
Quasi-fiscal Operations
Money Multipliers
Zimbabwe
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:20 pages
ISBN:9781451866629

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