Zimbabwe Meets IMF Targets to Regain International Credit Access

The Government of Zimbabwe announced it is on track to meet all quantitative targets and structural benchmarks established by the International Monetary Fund under a 10-month Staff Monitored Program. Approved in April, the informal agreement provides no financial loans but serves as a potential pathway for the country to regain access to international credit markets following its 1999 debt default.

Innocent Matshe, deputy governor of the Reserve Bank of Zimbabwe, stated that the government has met all quantitative targets and made significant progress on structural benchmarks. He noted that the commitment of the central bank and the government to sustaining price and exchange rate stability is critical to the program's success. These efforts follow the 2024 introduction of the gold-backed ZiG currency, although the U.S. dollar continues to dominate the economy.

An IMF delegation is scheduled to visit Zimbabwe from September 7-16 to conduct a final assessment of the program's outcomes.