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Zimbabwe Is Stuck Without International Support, Treasury Says

  • Lack of support creates temptation to print money: Guvamatanga
  • Multilateral lenders firm on repayment of almost $8 billion
Harare’s Central Business District.

Harare’s Central Business District.

Photographer: Xinhua News Agency/Getty Images

Zimbabwe is being forced into a corner by the refusal of multilateral lenders to lend the country more money as the southern African nation faces economic meltdown, according to the government’s top treasury official.

“Its very difficult to run the economy without any external support,” George Guvamatanga, the finance and economic development secretary, said in an interview. “You need a buffer to support you and without it that’s where the temptation to print money comes.”