IMF team in Zim to review progress

Farirai Machivenyika Senior Reporter

A two-member delegation from the International Monetary Fund (IMF) is in the country to review progress under the Staff Monitored Programme.

The delegation, comprising of Gene Leon Division Chief of the IMF African Department and David Robinson who is the Deputy Director paid a courtesy call on President Mnangagwa at his Munhumutapa Offices yesterday.

Speaking after the meeting, Finance and Economic Development Minister Mthuli Ncube said the SMP was meant to support the country’s reform agenda.

“This is a delegation from the IMF,” he said.

“As you know, Zimbabwe is under the Staff Monitored Programme for the next few months, which is meant to support our reform agenda under the Transitional Stabilisation Programme.

“So, they are here on a routine process of review of the progress under the SMP. They are here also so that they can convey certain messages to His Excellency (President Mnangagwa) and share with him certain thoughts, but it’s too early (to comment on progress), they have just started their work on the review process.”

Zimbabwe adopted the SMP early this year to address structural rigidities in the economy while also taking key steps to address the macroeconomic imbalances.

“The SMP process will run until year end and the next review is in January 2020, but in the interim we will continue receiving reviews from them on how we are progressing,” Minister Ncube said.

“This shows we are committed to the reform agenda for Zimbabwe, both economic and non-economic reforms, so that we make sure we can put the economy back on the path of growth and one expects that major macro-economic decisions are made and we put them behind us and focus on jobs.

“We are focusing on growth and competitiveness and economic development.”

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