The International Monetary Fund (IMF) has commended Zimbabwe’s economic resilience after successfully completing the first review of the country’s 10-month Staff-Monitored Programme (SMP), citing strong economic growth, low inflation and sustained macroeconomic stability.
In a statement, the IMF said Zimbabwe’s economy expanded by 8.3 per cent in 2025 and remained robust in early 2026, supported by improved agricultural output, strong mining activity and favourable global gold prices.
The Fund said inflation remained low, reflecting the impact of tight monetary policy and exchange rate stability, while the country’s overall macroeconomic performance continued to strengthen.
According to the IMF, Zimbabwe’s economy is projected to grow by five per cent in 2026 and average 4.2 per cent over the medium term. It added that although the current account surplus is expected to narrow, it would remain at a healthy level.
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The IMF, however, cautioned that the outlook faces downside risks, including the possibility of a major El Niño weather event and persistent geopolitical tensions in the Middle East, which could weigh on economic performance.
It noted that implementation of the programme through March 2026 remained on track, with all quantitative targets and structural benchmarks achieved.
However, the indicative target for protected social spending was not met.
The Fund recalled that the non-financing Staff-Monitored Programme, agreed in February, was designed to strengthen macroeconomic stability, enhance policy credibility and support Zimbabwe’s efforts toward arrears clearance, debt restructuring and re-engagement with the international community.
The IMF said the successful completion of the first review represents a significant milestone in consolidating Zimbabwe’s macroeconomic stabilisation gains and advancing reforms to promote sustainable economic growth and financial stability.
