The ten-month initiative looks to strengthen policy credibility and macroeconomic management, laying groundwork for potential future financing and debt resolution.

The International Monetary Fund has approved a ten-month Staff-Monitored Program (SMP) for Zimbabwe, in a move aimed at consolidating recent economic stabilisation gains and rebuilding confidence in the country’s policy framework.

The programme, announced on April 16, does not include direct financial support but is designed to help Zimbabwe strengthen macroeconomic management and re-engage with the international financial community.

Under the SMP, authorities will focus on maintaining low and stable inflation, easing pressure on the foreign exchange market, and reinforcing monetary policy tools. The programme also supports efforts to promote the use of the local currency, the Zimbabwe Gold (ZiG), and improve the efficiency of the foreign exchange system.

Zimbabwe’s economy has shown signs of recovery in recent years after a prolonged period of instability that began in the early 2000s and led to the accumulation of significant external debt arrears. Growth in 2025 was supported by stronger performances in key sectors such as agriculture and mining, particularly amid high gold prices and a rebound in platinum and lithium output.

Despite these gains, the country remains largely cut off from international financing due to outstanding arrears, limiting access to credit and constraining foreign investment.

CBI News reports that the IMF said the monitoring programme is intended to help Zimbabwe build a credible track record of policy implementation. This is seen as a critical step toward securing a fully financed IMF-supported programme in the future and advancing broader efforts to clear debt arrears.