## Zimbabwe: Staff-Monitored Program-Press Release and Staff Report

_IMF Staff Country Reports, May 30, 2019_

## Source details

**Canonical URL:** [Zimbabwe: Staff-Monitored Program-Press Release and Staff Report](https://www.imf.org/en/publications/cr/issues/2019/05/31/zimbabwe-staff-monitored-program-press-release-and-staff-report-46952)

## Other formats

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## Bibliographic details
- Published: May 30, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498317481.002

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### Executive summary and objectives
- The Staff-Monitored Program (SMP) for Zimbabwe is intended to assist the authorities in building a track record of implementation of a coherent set of economic and social policies to facilitate a return to macroeconomic stability and assist in reengagement with the international community.
- The SMP will be monitored on a quarterly basis.
- The new government that assumed office following the July 2018 elections is committed to: addressing the macroeconomic imbalances; removing structural distortions to facilitate a resumption in growth; and re-engaging with the international community including by clearing its external arrears.
- Authorities face limited access to external financing and the very low level of international reserves, leaving a very narrow room for manoeuvre.

### Key findings and risks
- Significant implementation risks exist for:
  - Monetary and exchange rate reforms.
  - Addressing governance and corruption weaknesses.
- These implementation risks could adversely impact the attainment of SMP objectives.
- The SMP is designed in the context of constrained external financing and very low international reserves.

### Policy priorities and intended outcomes
- Build a track record of policy implementation to facilitate reengagement with the international community.
- Address macroeconomic imbalances and remove structural distortions to support a resumption in growth.
- Clear external arrears as part of re-engagement with the international community.

### Subject coverage and keywords
- Subjects: Banking; Budget planning and preparation; Currencies; Government debt management; Inflation; Money; Prices; Public debt; Public financial management (PFM).
- Keywords: Africa; Budget planning and preparation; CR; Currencies; foreign exchange; Government debt management; government securities; IMF resident representative; Inflation; international community; ISCR; macroeconomic imbalance; managing director of the IMF; nominal GDP; private sector; reform agenda; risks to the SMP; Zimbabwean authorities.

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## Content in this bundle

- **1zweea2019003**
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  - [1zweea2019003 (PDF)](/-/media/files/publications/cr/2019/1zweea2019003.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2019/05/31/zimbabwe-staff-monitored-program-press-release-and-staff-report-46952_