2023-10-12 13:32:00
Zimbabwe hopes to agree a new program monitored by International Monetary Fund (IMF) staff by April 2024, with an IMF team expected to visit later this month for initial discussions, its finance minister said on Thursday .
“Our intention is that by the spring meetings in April 2024, we will have signed a staff-controlled program,” Minister Mthuli Ncube told reporters in Marrakech, where he is attending the annual meetings of the IMF and the World Bank.
“This program will focus on maintaining fiscal discipline and continuing to adjust our exchange rate system and maintain a rigorous monetary policy.
Zimbabwe’s economy has been marked by successive episodes of hyperinflation.
Its access to long-term international capital is blocked by its $14 billion debt to foreign lenders, including the World Bank and the African Development Bank. Nearly half of this debt is overdue.
1697125116
#Zimbabwe #program #monitored #IMF #staff #April #Today
