IMF lauds Zim progress
Nelson Gahadza
ZIMBABWE has made good progress in entrenching policies and measures that have enhanced economic and domestic currency stability, International Monetary Fund (IMF) mission chief Mr Wojciech Maliszewski said yesterday. He made the remarks after paying a courtesy call on President Mnangagwa at State House in Harare. Mr Maliszewski told journalists after the meeting with the President that they were in Zimbabwe to discuss the Staff Monitored Programme (SMP) and hold consultations on the Article IV Mission, which runs from June 4 to 18. “We are here to discuss a Staff Monitored Programme, but also participate in discussions on Article 4 consultations,” he said. “For the Staff Monitored Programme discussions, we are making good progress in terms of agreeing on policies that would be put in place to enhance the stability of the domestic currency, deepen the forex market, and also make sure that the fiscal discipline is fully entrenched. “So, these were the main topics that we have been discussing, which also include fiscal discipline and the forex market operations.” An SMP is an informal arrangement whereby IMF staff collaborate with national authorities to monitor and support the implementation of agreed economic reforms. While it does not include direct financial assistance, successfully completing an SMP helps a country build a credible track record of sound fiscal and monetary policies, essential for re-engaging with international lenders and resolving outstanding debt arrears. ReadMore