Story by Stanley James, Business Editor
AN International Monetary Fund (IMF) mission is in Zimbabwe conducting a key review of the country’s Staff Monitored Programme (SMP), a reform framework designed to consolidate economic gains, strengthen macroeconomic stability and advance debt resolution efforts.
The assessment comes three months after the implementation of the 10-month programme agreed between the Government and the IMF, which seeks to support economic reforms and enhance policy credibility.
The IMF delegation, which has been in Zimbabwe since last Monday, is holding closed-door engagements with senior Government officials as well as leaders from industry and commerce to evaluate economic performance and progress made under the programme.
The review is expected to provide an important assessment of Zimbabwe’s reform agenda and the effectiveness of measures introduced to promote economic stability and sustainable growth.
Economist Dr Zack Murerwa said the IMF mission reflects growing international confidence in Zimbabwe’s economic reform efforts.
“It is a sign of commitment by the relevant authorities towards revitalising ties with the IMF, something which is highly crucial as the nation moves towards facilitating overall socio-economic growth that will translate into more opportunities for increased production at a time when authorities commit to growth rates,” he said.
The IMF is expected to release its findings later this week, providing insight into progress achieved and areas requiring further attention.
University of Zimbabwe Business Studies Lecturer, Dr Nyasha Kaseke, said strengthening relations with multilateral financial institutions remains important for Zimbabwe’s long-term economic prospects.
“This is the only way in which the nation can derive more benefits. It sets the tone for confidence, an element which is vital in sustaining the needs of the economy, so it is up to the relevant authorities to continue working with the IMF so that in the near future Zimbabwe can regain its status as a true partner for overall economic growth,” he said.
The Staff Monitored Programme is intended to help Government establish a credible economic reform roadmap, maintain macroeconomic discipline, contain inflationary pressures and support Zimbabwe’s strategy for debt restructuring and re-engagement with international financial institutions.
The outcome of the review is expected to provide a clearer picture of Zimbabwe’s economic trajectory as the country continues implementing reforms under its broader development agenda.
