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STORY: IMF / ZIMBABWE VENEZUELA INDIA
TRT: 2:15
SOURCE: IMF
LANGUAGE: ENGLISH / NATS
DATELINE: 15 FEBRUARY 2018, WASHINGTON, DC
RECENT – WASHINGTON, DC
1. Wide shot, exterior IMF building
15 FEBRUARY 2018, WASHINGTON, DC
2. Wide shot, news conference
3. Cutaway, reporters
4. SOUNDBITE (English) Gerry Rice, Spokesman, International Monetary Fund (IMF):
“We are very concerned about the deepening humanitarian crisis in Venezuela. The reports of the widespread shortages and the deteriorating health and sanitary conditions are troubling, of course and I think that is true for everyone. In terms of the IMF are work is focused on surveillance. We’ve been gathering information and following the situation closely.”
5. Cutaway, reporter
6. SOUNDBITE (English) Gerry Rice, Spokesman, International Monetary Fund (IMF):
“Our sense from discussions with the authorities (in Zimbabwe), and remember we have a resident representative in Harare, is that the authorities are well aware of the challenges facing the economy and have expressed their determination to address them. And in that respect, we feel the 2018 budget is a step in the right direction.”
7. Med shot, presser
8. Cutaway, reporter
9. SOUNDBITE (English) Gerry Rice, Spokesman, International Monetary Fund (IMF):
“The budget 2018-19 aims for a deficit that is smaller than the deficit that was expected in 2017 going in to 18 and this is also what IMF staff had been recommending.”
10. Cutaway, reporter
11. SOUNDBITE (English) Gerry Rice, Spokesman, International Monetary Fund (IMF):
“The budget assumes that tax revenue will rise faster than the value of transactions in the economy so it’s ambitious as it assumes that the government will be able to collect higher tax revenue from the same amount of consumption and income. There were also some implementations with the new goods and sales tax in 2017. So, if these implementation issues persist then tax revenue collection could fall short.”
RECENT – WASHINGTON, DC
12. Wide shot, exterior IMF building
The IMF stands ready to help Zimbabwe as it tackles severe economic and financial hardship, spokesman Gerry Rice told reporters today (Feb 15) in Washington.
Zimbabwe has paid off its debt arrears to the IMF, but is still not caught up with payments due to other international organizations. The IMF is unable to offer new financial aid to any country that is still in arrears. But consultations with Zimbabwean officials, including a meeting between new president Emmerson Mnangagwa and IMF Managing Director Christine Lagarde last month in Davos, has shown a willingness to make needed reforms from Harare, Rice said.
The IMF is very concerned about the worsening humanitarian situation in Venezuela, Rice told reporters. But he added that currently no request for aid has come from authorities.
Venezuela has not allowed the IMF to complete an Article IV evaluation since 2004 during the Presidency of Hugo Chavez but the Fund continues to monitor the economy and debt with available resources.
Currently the IMF projects that Venezuela is facing inflation of 2,349% in 2018 and a six percent loss of GDP.
And the IMF broadly supports the Indian government’s budget, with its goal of reducing fiscal deficits, Rice said.
But the goal of Indian authorities to raise tax revenue collection to shrink the deficit depends on implementation, and there is the chance it may fall short of targets.
