Zim economy fragile despite falling oil prices

Harare - Falling oil prices on global markets will help struggling Zimbabwe save as much as US$180m, said the country’s Finance Minister Patrick Chinamasa, but the International Monetary Fund (IMF) said the country's external position remains "precarious" despite the favourable impact of lower oil prices.

Chinamasa said on Monday that Zimbabwe will this year ratchet up a fuel import bill of about $1.22bn.

Obtaining lower oil prices will help the country save as much as $180m overall, compared to last year's fuel import bill.