Zimbabwe Achieves IMF Benchmarks as Economy Records Strong Growth
Zimbabwe has successfully completed the first review of the country’s 10-month Staff-Monitored Programme (SMP). The International Monetary Fund (IMF) has commended the country’s economic resilience, citing strong economic growth, low inflation and sustained macroeconomic stability.
In a statement, the IMF said Zimbabwe’s economy grew by 8.3 per cent in 2025 and remained strong in early 2026, supported by improved agricultural output, strong mining activity and favourable global gold prices.
Inflation was still low, a sign of the effects of a tight monetary policy and stability in the exchange rate, the Fund said, while the country’s overall macroeconomic performance continued to improve.
Zimbabwe’s economy is projected to grow by five per cent in 2026 and average 4.2 per cent over the medium term, according to the IMF. The current account surplus is expected to narrow but remain at a healthy level, it added.
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But the IMF cautioned that the outlook faces downside risks including the possibility of a major El Nino weather event and ongoing geopolitical tensions in the Middle East, which could weigh on economic performance.
It said implementation of the programme was on track through March 2026, with all quantitative targets and structural benchmarks met.
However, the indicative target for protected social spending was not reached.
The Fund noted that the non-financing Staff-Monitored Programme agreed in February aimed to bolster macroeconomic stability, enhance policy credibility and support Zimbabwe’s efforts towards arrears clearance, debt restructuring and re-engagement with the international community.
The IMF said the successful completion of the first review marked an important milestone in cementing Zimbabwe’s gains in macro-economic stabilisation and implementing reforms aimed at promoting sustainable economic growth and financial stability.
