IMF Delegation In Zimbabwe For Economic Reform Talks
A high-level team from the International Monetary Fund (IMF) has begun formal meetings with the Government of Zimbabwe under the Staff Monitored Programme (SMP).
The IMF delegation met with officials from the Ministry of Finance, Economic Development and Investment Promotion in the capital, Harare, on Wednesday for technical discussions aimed at evaluating Zimbabwe’s commitment to economic reforms and macroeconomic stability.
A senior official from the Ministry of Finance, Economic Development and Investment Promotion, who requested anonymity, told Business Times that the IMF team will be in the country until June 18.
The visit is widely regarded as a make-or-break moment for Zimbabwe’s reform agenda. While the SMP does not provide funding, its successful implementation is a prerequisite for future access to concessional financing, potential debt restructuring, and the restoration of confidence among international creditors and investors.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube recently said that the visit offers Zimbabwe an opportunity to demonstrate both political will and policy discipline. Said Minister Ncube:
This IMF mission is an important opportunity for Zimbabwe to showcase the work we’ve done on macroeconomic stabilisation and reform implementation.
The Staff Monitored Programme (SMP) serves as a foundation for Zimbabwe’s re-engagement with the international financial system.
This week’s review follows an earlier visit in January by an IMF team led by mission chief Wojciech Maliszewski.
That visit marked the start of Zimbabwe’s engagement under the current SMP, which the government requested in 2023 to demonstrate its commitment to economic reform and international re-engagement.
Zimbabwe is burdened with a ballooning public debt that has now exceeded US$21 billion, including more than US$12.3 billion owed to external creditors.
Years of unpaid arrears have excluded Zimbabwe from accessing concessional financing from the IMF, World Bank, and other international financial institutions.
Harare-based independent economist Samuel Nkomo said the SMP is both a test and a signal of intent. He said:
If Zimbabwe passes this test, it paves the way for support from multilaterals and possibly private investors. But if it stumbles, it risks deeper economic isolation.
More: Business Times
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