‘Poverty Reduction Strategy on cards’ Minister Chinamasa
Minister Chinamasa

Minister Chinamasa

Government plans to craft an Interim Poverty Reduction Strategy Paper (IPRSP) for the period 2016 to 2018 to enhance its efforts in fighting poverty, a Cabinet minister said yesterday. Poverty remains one of the biggest challenges in Zimbabwe, but the Government has introduced various home grown initiatives to lower and eventually eradicate it.Measures to eradicate poverty in Zimbabwe also include those governed by several international frameworks such as the recently adopted Sustainable Development Goals.

Finance Minister Patrick Chinamasa said starting from May 3 to 30 this year, consultative meetings would be held across the country to gather input on the IPRSP.

He said core principles of the IPRSP were that it should be country driven, promoting national ownership through broad based participation by all stakeholders.

“The purpose of the IPRSP is to enhance government efforts in fighting poverty in Zimbabwe and ensure inclusive growth, guided by the country’s national development plan Zim-Asset,” he said.

“The IPRSP will therefore focus on practical and well-targeted measures that can be implemented in the short to medium term with long lasting impacts that guarantee improvement of citizenry welfare.” Minister Chinamasa said the IPRSP would also assist in furthering the current re-engagement process with International Financial Institutions (IFIs).

Zimbabwe is in the process of re-engaging multilateral lending institutions and, for instance, has gone through an IMF reform plan, dubbed the Staff Monitored Programme under which various targets on management of the economy and government finances were set.

Under the SMP, Zimbabwe committed to undertaking reforms such as consolidating its fiscal position so that more resources are allocated towards areas including infrastructure and social spending.

“The strategy is also expected to facilitate the re-engagement process with the International Financial Institutions and co-operating partners which is key in financing the country’s development process,” Chinamasa said. Poverty Reduction Strategies Papers (PRSPs) provide lending organizations, like the World Bank and the IMF, assurance that countries receiving aid would utilize the assistance to pursue development outcomes that have been elaborated in the PRSPs and approved by lenders. – New Ziana

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