The debate should focus on how can we stimulate more activity to generate more foreign currency

Finance Minister Simba Makoni

Correspondents say that despite repeated calls for devaluation, the government has kept the Zimbabwe dollar at about 55 to the American dollar. The currency is trading at 150 to the dollar on the unofficial market.

Mr Makoni said that the government would work with industry to revive ailing sectors such as tourism, mining, agriculture and manufacturing.

"I believe it will take no less than 24 to 30 months," Mr Simba told the BBC.

The minister also announced measures to strengthen surveillance of operations that generate foreign currency, and the foreign exchange market.

No consistency

At a forum of Zimbabwe's top economists, bankers and captains of industry and commerce, Mr Makoni said he opposed devaluation because "previous devaluations have not yielded results".

Mr Makoni said greater effort was needed

The reason for the failure was because, the minister added: "we haven't been consistent, we haven't been regular, we haven't been persistent and we haven't supported it."

To revive tourism, which can earn as much as 11% of total export receipts, but has plunged to an all-time low due to political tension, Mr Makoni suggested scrapping visas, and attracting back airlines that have pulled out of the country.

He added that the government was striving to ensure "normality" in the country, and a return to the rule of law.

Mr Makoni also announced that holiday allowances for Zimbabweans would be slashed by half to US$2,500 per year.