An International Monetary Fund (IMF) mission is in Zimbabwe to conduct the second review of the country’s Staff Monitored Programme (SMP), initiating a 10-day evaluation focused on macroeconomic stability, structural policy execution, and broader fiscal management.

The delegation, led by IMF Mission Chief for Zimbabwe Wojciech Maliszewski, began its work with a courtesy call on the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, in Harare.

The mission is scheduled to run from September 7 through September 16, 2026.

Throughout the visit, the IMF team is slated to hold consultative sessions with a broad spectrum of stakeholders, including key government officials, private sector leaders, international development partners, and representatives from civil society organisations.

Initial talks between Treasury officials and the Fund focused on evaluating Zimbabwe’s broader macroeconomic performance.

Government representatives noted that the national economy remains on track to achieve its projected 5% real growth target for 2026, driven by strong revenue performance and contained domestic inflation.

Treasury highlighted that government revenue collections have consistently exceeded targets, providing additional fiscal buffer room to cushion the domestic economy from external pressures, including sustained global fuel price volatility.

On the expenditure side, officials reported that public spending has stayed within tighter limits than originally anticipated, allowing the state to maintain budget discipline while continuing to direct funds toward essential national programs.

The mission engagement also put a strong emphasis on accelerating social spending to protect vulnerable communities.

While acknowledging the priority given to social protection under the SMP, the IMF called on authorities to resolve operational bottlenecks, specifically emphasising the need to clear outstanding audit requirements so that budgeted support reaches its intended beneficiaries effectively.

Minister Ncube updated the delegation on progress regarding the country’s sovereign debt restructuring efforts.

He noted that ongoing engagements with bilateral and multilateral partners have yielded positive commitments to assist Zimbabwe, a step intended to relieve debt-servicing burdens and generate additional room for fiscal maneuverability.

Discussions during the review are set to cover foreign exchange market reforms, notably the technical development of a new foreign-exchange trading platform in collaboration with the World Bank.

Other policy priorities on the agenda include Public Finance Management reforms, the full implementation of a Treasury Single Account, subsidy rationalisation, monetary policy alignment, governance enhancements, and preliminary preparations for the 2027 National Budget.

The IMF acknowledged the structural progress achieved so far and encouraged Zimbabwean authorities to sustain policy momentum under the SMP as the nation prepares for deeper financial re-engagement with the international community.