JOHANNESBURG, Feb 6 – Zimbabwe has agreed to enter a new staff-monitored programme with the International Monetary Fund, marking a fresh step in its efforts to stabilise the economy and rebuild credibility with international partners.
George Guvamatanga, a senior official at the finance ministry, said the authorities are targeting a 10-month programme beginning next month, subject to the completion of remaining procedural steps. The initiative is intended to reinforce ongoing fiscal and monetary policy reforms.
According to Guvamatanga, the programme will focus on consolidating recent policy adjustments aimed at restoring macroeconomic stability, strengthening public finances and improving monetary discipline.
A staff-monitored programme is an informal arrangement under which IMF staff track a country’s economic policies and reform implementation. Such programmes are typically used when a country is not yet eligible for full IMF financial support, often due to institutional weaknesses, political uncertainty or unresolved financing challenges.
While staff-monitored programmes do not provide funding or require approval by the IMF’s Executive Board, they are widely viewed as an important credibility-building tool. Successful implementation can help countries establish a track record of sound policymaking and pave the way for future IMF lending or renewed access to emergency assistance.
Zimbabwe has entered several staff-monitored programmes in the past, most recently between May 2019 and May 2020. The IMF has repeatedly said that Harare remains ineligible for a funded programme until it clears longstanding external arrears.
The latest agreement signals renewed engagement between Zimbabwe and the IMF as the Southern African nation seeks to normalise relations with creditors and restore access to international capital over the medium term.
