An International Monetary Fund (IMF) delegation is expected in Zimbabwe from September 7 to 16 for the second review of the country’s 10-month Staff Monitored Programme (SMP), as the Government continues efforts to consolidate economic reforms and strengthen international re-engagement.
The visit comes after Zimbabwe recorded progress under the IMF-supported programme, with authorities seeking to demonstrate consistency in implementing economic and monetary reforms.
The second review will provide the Fund with an opportunity to assess developments in the economy and determine whether commitments under the SMP are being implemented as agreed.
Commercial legal expert, James Makiya, said the IMF mission was a positive development for Zimbabwe’s economic re-engagement agenda and could enhance confidence among international investors.
“I think Zimbabwe has made it clear that it is a friend to all and an enemy to none. This means the nation is doing all it can to cement its economic development policies; you talk about stability, the growth path, increased output and a stable exchange rate,” he said.
Makiya said continued engagement with international financial institutions could help Zimbabwe strengthen its economic foundations while creating opportunities for investment.
He said the country’s reform trajectory demonstrated resilience and increased its potential to attract both local and international business.
The Chairperson of First Capital Bank Limited, Pat Devenish, said the IMF review was also an important signal of renewed confidence in Zimbabwe’s economic reform programme.
“This is a testament of renewed confidence by the global financiers. They are actually seeing what we have done as an economy and the impact of such interventions on overall economic development,” he said.
Devenish added that continued engagement with the Bretton Woods institutions would reinforce Zimbabwe’s commitment to economic transformation and strengthen cooperation with international financial institutions.
The IMF’s first SMP review endorsed progress made by Zimbabwe in implementing reforms, with the programme providing a framework for monitoring economic policies and reforms without providing direct financial assistance.
According to the IMF, Zimbabwe’s economy expanded by 8.3% last year, up from 1.7% in 2024, supported by strong performances in mining and agriculture as well as favourable gold prices.
The economy is expected to maintain its growth momentum, with projections pointing to around 5% growth this year.
The upcoming IMF mission is therefore expected to focus attention on the sustainability of recent gains, macroeconomic stability and the consistency of reforms as Zimbabwe continues its efforts to normalise relations with international financial institutions and unlock greater investment opportunities.
