Zimbabwe has reached a staff-level agreement with the International Monetary Fund (IMF) on a new 10-month Staff-Monitored Programme (SMP), marking a fresh step toward re-engagement with international creditors. The programme is intended to consolidate recent economic reforms and improve policy credibility after years of instability, Reuters reported.
The SMP will focus on strengthening fiscal discipline, budget execution, cash management and monetary stability, with IMF staff monitoring performance against agreed benchmarks. The Fund said the programme is designed to help Zimbabwe build a track record of sound policies that could support future discussions on arrears clearance and debt restructuring.
Finance Minister Mthuli Ncube said the programme, which does not involve immediate IMF financing, aims to reinforce macroeconomic stability and restore confidence in government policy. He noted that successful implementation could help unlock broader international financial support over time, ChannelAfrica reported.
Zimbabwe last attempted a staff-monitored programme in 2019, but it collapsed after policy slippages. Analysts say the new agreement will be closely watched by investors and creditors as a test of Harare’s ability to maintain reform momentum and sustain economic stabilization efforts.
