Zimbabwe: Second Review Under the Staff-Monitor Program-Press Release; and Staff Report

October 8, 2015

Preview Citation

Format: Chicago

Zimbabwe: Second Review Under the Staff-Monitor Program-Press Release; and Staff Report, (USA: International Monetary Fund, 2015) accessed December 29, 2024

Summary

This paper discusses Zimbabwe’s Second Review of the Staff-Monitored Program. The program is on track. Four of the five quantitative targets for end-June 2015, and all the structural benchmarks for the second review were met. Although a recently contracted $200 million nonconcessional loan breached the quantitative target on nonconcessional borrowing, it avoided the accumulation of additional external arrears. The IMF staff welcomes the authorities’ intentions to continue seeking financing through grants and loans that are as concessional as possible, and to limit contracting non-concessional loans to within the ceiling set under the program, and to prioritize investment that would eventually raise Zimbabwe’s capacity to repay.

Subject: Arrears, Banking, Currencies, Expenditure, External debt, Fiscal policy, Fiscal stance, Money

Keywords: Arrears, CR, Currencies, Debt stock, Earnings, Fiscal stance, Global, IMF staff estimate, International financial institutions, ISCR, Legacy debt obligation, Management of the International Monetary Fund, Reconciliation exercise, Reform, Reform agenda, Zimbabwean authorities

Publication Details

Pages:

39
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/279
Stock No:

1ZWEEA2015002
ISBN:

9781513576688
ISSN:

1934-7685

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