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Inclusive government - Index of articles
Term Economic Recovery Programme (STERP): Getting Zimbabwe moving
Ministry of Finance
March 17, 2009
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1. On the 15th
of September 2008, a Global
Political Agreement was executed by the three Political Parties
represented in the Zimbabwean Parliament. Pursuant to this, the
new Inclusive Government took Office in the context of an economy
that had many challenges.
2. At the epicentre
of the economic crisis, have been unprecedented levels of hyper-inflation,
sustained period of negative Gross Domestic Product (GDP) growth
rates, massive devaluation of the currency, low productive capacity,
loss of jobs, food shortages, poverty, massive de-industrialisation
and general despondency.
3. It is, therefore,
a fundamental task of the new Inclusive Government to address the
above and to resuscitate and rehabilitate the economy. In addition,
the new Inclusive Government has to attend to the major imperator
of nation building and national healing.
4. The obligation
of the Inclusive Government to buttress the issues of economic recovery
is set out in the GPA under Article 3 1(a) which states inter-alia
agree to give priority to the restoration of economic stability
and growth in Zimbabwe. The Government will lead the process of
developing and implementing an economic recovery strategy and
plan. To that end, the Parties are committed to working together
on a full and comprehensive economic programme to resuscitate
Zimbabwe's economy which will urgently address the issue of production,
food security, poverty and unemployment and the challenges of
high inflation, interest rates and the exchange rate.
5. As part of
its obligation to address the economic crisis, Government has come
up with the present Short Term Emergency Recovery Programme (hereinafter
referred to as STERP), which will cover the period February to December
6. STERP is
an emergency short term stabilisation programme, whose key goals
are to stabilise the macro and micro-economy, recover the levels
of savings, investment and growth, and lay the basis of a more transformative
mid term to long term economic programme that will turn Zimbabwe
into a progressive developmental State.
7. STERP is,
therefore, part of implementation of the Global Political Agreement
and seeks to address the key issues of economic stabilisation and
national healing, whilst at the same time laying the foundation
of a more comprehensive and developmentalist economic framework
which will succeed the same.
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