Harare, Zimbabwe – The International Monetary Fund (IMF) has announced that its staff and Zimbabwean authorities have reached a staff-level agreement on policies to complete the second review under Zimbabwe’s 10-month Staff-Monitored Program. This significant development follows productive discussions held in Harare from September 7 to 17, 2026, led by Mr. Wojciech Maliszewski.
The agreement, which is now subject to approval by IMF Management, is seen as a crucial step towards consolidating macroeconomic stability and building a track record essential for arrears clearance, debt restructuring, and re-engagement with the broader international community.
According to the IMF, program implementation through the end of June 2026 was robust, with all quantitative and indicative targets met, except for the indicative target on protected social and priority spending. Additionally, structural benchmarks related to publishing the finalized user manual for the Zimbabwe Social Registry (ZISO) and developing a Treasury Single Account reform strategy were also successfully met.
Zimbabwe’s economy is projected to expand by 5 percent in 2026, building on a strong 8.3 percent growth in 2025. Annual inflation has seen a notable decline to a low single-digit rate of 2.9 percent in August, attributed to tight monetary conditions and relative exchange rate stability. The current account is also expected to remain in surplus for 2026, driven by strong export receipts and remittance inflows.
Key Players Involved
- International Monetary Fund (IMF): Reached staff-level agreement with Zimbabwean authorities.
- Mr. Wojciech Maliszewski: Led the IMF team in discussions.
- Zimbabwean Authorities: Engaged in productive discussions with the IMF, leading to the agreement.
Event Timeline
- September 7-17, 2026: IMF team visits Harare for discussions.
- September 17, 2026: IMF announces staff-level agreement reached.
