Nqobile Bhebhe
Zimpapers Business Hub
ZIMBABWE is stepping up efforts to secure international support for debt resolution and arrears clearance to unlock concessional development finance and create new opportunities for investment in infrastructure, industry and job creation.
The country is making its case at the 2026 International Monetary Fund (IMF) and World Bank Annual Meetings in Bangkok, Thailand, from 12–18 October, with Finance Minister Professor Mthuli Ncube leading a Zimbabwean delegation in engagements with key international financial institutions.
In an update, the Ministry of Finance said the Zimbabwean delegation met with World Bank Regional vice president for Eastern and Southern Africa, Mr Ndiame Diop, IMF executive director for Africa Group 1, Mr Adriano Ubisse and IMF African Department director, Mr Zeine Zeidane, to discuss Zimbabwe’s economic reform progress and the support required to resolve its outstanding debt obligations.
The engagements come as the Government seeks to translate improvements in macroeconomic stability into a credible, financed pathway towards arrears clearance and debt restructuring, a process considered important for restoring access to affordable development finance.
Discussions recognised Zimbabwe’s progress in restoring macroeconomic stability through prudent fiscal and monetary policies, reflected in single-digit inflation, a stable exchange rate and stronger revenue performance, the ministry said.
Zimbabwe’s ongoing IMF Staff-Monitored Programme (SMP) remains central to the country’s international re-engagement and efforts to establish a track record of policy implementation that can support negotiations on debt resolution.
Harare is presently unable to borrow from international financial institutions primarily due to its massive external arrears and debt default.
Zimbabwe’s inability to access cheap, long-term international funding (stemming from sovereign debt defaults around 1999–2000 and accumulated arrears with multilateral lenders like the IMF, World Bank and African Development Bank) has caused severe economic and social consequences, including limited space to finance key Government programmes, budget deficits and provide adequate social safety nets.
