NEW: International Monetary Fund commends Zimbabwe re-engagement efforts

Online Reporter

THE International Monetary Fund (IMF) has commended Zimbabwe’s international re-engagement efforts.

This comes as Zimbabwe has requested a Staff Monitored Programme (SMP), which is an informal agreement under which IMF staff closely monitors a member country’s economic programme.

An IMF staff team led by Mr Wojciech Maliszewski visited the country on January 31 to February 14 2024, to discuss the country’s request for an SMP, and to commence 2024 Article IV Consultations.

Following the visit Mr Maliszewski said:

“The authorities have requested a new Staff Monitored Program (SMP) to support their stabilisation efforts and reengagement with the international community through building a track record of sound economic policies.

“The mission was a step in the preparations for an SMP and initiated Article IV consultations.”

The IMF said economic activity in the country “continues to show resilience in the face of currency instability and high inflation.”

IMF said it welcomes Zimbabwe authorities’ strong resolve to address the sources of fiscal pressures.