An International Monetary Fund (IMF) staff team led by Wojciech Maliszewski visited Zimbabwe from October 29 to November 5, 2025. The visit was part of the IMF’s ongoing engagement with Zimbabwean authorities and other stakeholders.
At the end of the mission, Mr. Maliszewski released a statement outlining the discussions and findings during their stay. He said, “The IMF mission held productive discussions with the Zimbabwean authorities on recent economic developments and the 2026 budget framework.”
He noted that Zimbabwe’s economy in 2025 performed better than previously expected, mainly due to improvements in agriculture and strong results in mining. Inflation rates have also eased, helped by a stable foreign exchange rate. According to Mr. Maliszewski, “The economy is expected to maintain strong momentum in 2026.”
Talks in Harare focused on how to strengthen fiscal discipline for the upcoming year by making sure government spending matches revenue and available non-inflationary financing sources while avoiding new unpaid bills. Mr. Maliszewski stated, “In this context, adopting credible revenue projections supported by concrete policy and administrative tax measures for 2026, and strengthening expenditure management, would help enhance fiscal resilience and the management of fiscal risks and pressures.”
Regarding a possible Staff Monitored Program, he added: “In the context of the requested Staff Monitored Program, IMF staff stand ready to resume discussions upon progress towards addressing key policy issues highlighted in the Article IV consultations, including aligning the 2026 budget with the objective of sustaining macroeconomic stability.”
During their visit, IMF representatives met with Finance Minister Mthuli Ncube, Reserve Bank Governor John Mushayavanhu, their teams, and other stakeholders. The team expressed gratitude for what they described as warm hospitality and constructive cooperation: “The IMF team wishes to express its sincere appreciation to the Zimbabwean authorities and all counterparts for their warm hospitality, open dialogue, and excellent cooperation throughout the mission.”