THE International Monetary Fund (IMF) announced on Tuesday that it is satisfied with Government’s efforts to strengthen the financial sector and also liberalise the labour market.

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In a statement at the at the end of its visit to conduct the second review of Zimbabwe’s Staff-Monitored Programme, IMF’s head of delegation Mr Domenico Fanizza said:

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“In the context of their reform programme, the authorities have taken important steps to strengthen the financial sector and liberalise the labour market.

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“They have also prepared plans to rationalise public expenditure and reduce public sector employment costs. However, these reforms will require time and deeper efforts before their beneficial impact is felt on the economy.

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“We are pleased that the authorities met all quantitative targets and structural benchmarks for the second review, and two structural benchmarks scheduled for the third review under the SMP.”

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The IMF team has been in the country since August 31.