Mnangagwa's Economic Policies Constitute A Comprehensive Stabilization And Reform Effort- IMF

The International Monetary Fund (IMF) said President Emmerson Mnangagwa’s current economic plan is a comprehensive stabilization and reform effort.

Responding to an online question during Friday’s edition of IMF’s weekly question-and-answer session, the Fund’s director of communications, Mr Gerry Rice, said IMF can only work on a financial programme with Zimbabwe once the country strikes a deal with bilateral creditors and clears its arrears with other international financial institutions. Said Rice:

We think the policies, to answer the question, the policies of the new administration under the Zimbabwe transition and stabilization program, do constitute a comprehensive stabilization and reform effort in order to address Zimbabwe’s macroeconomic situation.

And, you know, we see it as a fairly ambitious program that the authorities have requested the staff monitored program. I’m differentiating that from an IMF financial program which, of course, discussion of that, as we’ve said here before, would require the clearance of arrears by Zimbabwe to the other international financial institutions as well as an agreement with official bilateral creditors. So we are looking at a staff monitored program, but not at this point, the full financial program for the reasons I just mentioned.