Zim Left Out Of Emerging Economies List

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Zimbabwe has been excluded from a list of 66 emerging economies due to high public and foreign debts and insufficient foreign reserves, among others.

The list is topped by Botswana while Taiwan, South Korea, Peru, Russia, the Philippines, Thailand, Saudi Arabia, Bangladesh and China make up the top 10.

The ranking examines the vulnerability of selected economies across four potential sources of peril, public debt as a percentage of gross domestic product, foreign debt (both public and private), cost of borrowing and foreign reserve cover.

economic analyst Persistence Gwanyanya said the country’s economy is still too shaky to be on the list.

“It’s unsurprising. It’s clear to everyone that Zimbabwe is not yet there. Our economy is still shaky. More efforts are supposed to be geared towards that status (to be among the top 66 emerging economies).”

He said the country needed to boost its image to attract significant capital and improve its credit rating.