American economist Hanke rubbishes IMF about Zim money supply

The International Monetary Fund says Zimbabwe’s economic progress represents a “regime change,” but declined to say if or when the Washington-based lender would grant it a staff-monitored program.

IMF representative Wojciech Maliszewski, who recently visited the southern African nation to conduct a regular IMF economic health update, said the conduct of the Reserve Bank of Zimbabwe, which has vowed to halt printing money to finance the government, was particularly impressive.

“The RBZ, holding liquidity positions tight, not providing monetary financing to the government. I think this is a regime shift,” he told Bloomberg on Wednesday in the capital, Harare.

However, renowned American economic analyst Professor Steve Hanke says the IMF is off the mark when it comes to money supply in Zimbabwe.

“IMF Rep. Wojciech Maliszewski says: “The RBZ is holding liquidity positions tight.”

“I wonder what Wojciech is smoking?

“ZIM’S MONEY SUPPLY (M2) IS SURGING AT 54.7%/yr, by my measure,” he says.

Apparently, based on his measurements, Hanke says this week’s top 5 inflators are:
?? Venezuela — 195%/yr
?? South Sudan — 106%/yr
?? Iran — 64%/yr
?? Zimbabwe — 54%/yr
?? Myanmar — 50%/yr.

Zwnews