Zimbabwe wants new IMF staff-monitored programme by April | The Zimbabwean, 14 OCT

  Zimbabwe wants new IMF staff-monitored programme by April | The Zimbabwean (10/13/23)

HARARE (Reuters) - Zimbabwe hopes to agree a new staff-monitored programme with the International Monetary Fund (IMF) by April next year, with an IMF team due to visit later this month for initial talks, its finance minister said on Thursday.

“Our intention is that by the time we go for the Spring Meetings in April 2024 we should have signed off on a staff-monitored programme,” Mthuli Ncube told reporters in Marrakech at the IMF and World Bank Annual Meetings.

“It will focus on maintaining discipline on the fiscal front and continue fine-tuning our exchange rate system and maintaining a tight monetary policy.”

An IMF staff-monitored programme is an informal agreement under which Fund staff keep tabs on a member country’s economic programme. If successful it could lead to a financial arrangement in the future.

Zimbabwe’s economy has been scarred by successive bouts of hyperinflation.

https://www.thezimbabwean.co/2023/10/zimbabwe-wants-new-imf-staff-monitored-programme-by-april/