The Zimbabwe National Statistics Agency (ZimStat) says the country’s inflation rate slowed to 161.91% in May, from 194.07% in April.

According to the Agency, month-on-month inflation was 2.54%, up from 1.58% in April.

Meanwhile, according to renowned economist Steve Hanke, Zimbabwe needs to right its economic fundamentals if the country dreams of registering economic growth.

Hanke believes one of the major elements affecting Zimbabwe’s economy is corruption which is going unchecked.

Commenting on the report that the International Monetary Fund is planning to give the country $1 billion, described the move as a scandal.

“The IMF is giving Zimbabwe $1B free of charge. What a scandal. Zim ranks 157th of 180 countries in @anticorruption’s Corruption Perceptions Index. $1B to support President Emmerson Mnangagwa and his corrupt cronie?” He queried.