The African Development Bank (AfDB) has commended Zimbabwe for undertaking the International Monetary Fund (IMF) Staff-Monitored Programme (SMP).
The commendation came from the incoming AfDB Country Manager for Zimbabwe, Ms. Eyerusalem Fasika, during a courtesy call on the Minister of Finance, Economic Development and Investment Promotion, Prof. Mthuli Ncube, yesterday.
Ms. Fasika highlighted that Zimbabwe’s engagement with the IMF through the SMP demonstrates the country’s commitment to sound economic management.
“The programme is a clear signal to the international community that Zimbabwe is taking decisive steps to stabilise its economy and address structural fiscal challenges,” she said.
The AfDB official noted that the SMP will support Zimbabwe in restoring fiscal discipline while providing a platform for dialogue with international creditors.
“Through these efforts, the Government is positioning itself to tackle debt arrears and lay a foundation for sustainable growth,” Fasika added.
During the meeting, Fasika expressed support for Zimbabwe’s Arrears Clearance and Debt Resolution Roadmap (ACDRR), which is intended to restore access to international financing.
“We fully endorse the roadmap as a practical framework to resolve arrears and strengthen the country’s credibility with global partners,” she said.
Minister Ncube welcomed the AfDB’s backing, describing it as a vote of confidence in Zimbabwe’s economic reforms.
“Our collaboration with the AfDB and other development partners is crucial as we implement policies that stabilise the economy, manage debt effectively, and attract much-needed investment,” he said.
The IMF Staff-Monitored Programme allows countries to implement reform measures under IMF guidance without formal financial assistance.
Zimbabwe’s engagement with the programme is part of a broader strategy to stabilise the economy, improve fiscal management, and unlock access to international financing.
