Zimbabwe at IMF World Bank Annual Meetings

Zimbabwe’s finance delegation, led by George Guvamatanga, engages IMF and World Bank officials in Washington to secure a Staff-Monitored Programme aimed at restoring investor confidence and paving the way for arrears clearance (image source)

HARARE — Zimbabwe’s finance delegation, led by Finance Secretary George Guvamatanga, is in Washington D.C. for the 2025 IMF and World Bank Annual Meetings, as discussions intensify over a Staff-Monitored Programme (SMP) aimed at restoring investor confidence and jumpstarting arrears clearance.

The Treasury team is prioritising the SMP as a cornerstone of credible macroeconomic management, viewing it as a bridge toward full programme engagement and eventual arrears resolution. Officials say the SMP would demonstrate a track record of fiscal discipline and reform implementation, key to convincing creditors and multilateral partners to deepen their support for Zimbabwe’s Vision 2030 development goals.

According to the IMF-World Bank calendar, the Annual Meetings are taking place from October 13 to 18 in Washington, providing a platform for technical negotiations and bilateral talks between Harare and international financiers. Treasury sources describe the negotiations as “progressing in earnest,” with an IMF mission scheduled to visit Harare at the end of October 2025 to finalise benchmarks and operational modalities for the SMP.

Government representatives emphasise that a clear, time-bound reform agenda under the SMP will be essential before the IMF can recommend debt relief or approve arrears clearance pathways. IMF Managing Director Kristalina Georgieva and other debt experts have consistently warned that high debt burdens, weak growth, and transparency gaps complicate programme design for fragile economies—a caution highly relevant to Zimbabwe’s position.

Delegation members attending panels and side meetings in Washington report active engagement with World Bank teams on climate finance, social protection, and private-sector development. A Treasury official said Zimbabwe used the sessions to highlight fiscal consolidation efforts and governance reforms intended to attract concessional financing and private capital.

Economic analysts, however, caution that securing the SMP will require more than commitment—it demands tangible progress in debt transparency, data accuracy, and reform execution. If Zimbabwe successfully meets SMP targets, the milestone could unlock World Bank concessional operations and boost investor sentiment aligned with Vision 2030 priorities.

Zimbabwe’s participation in the Washington meetings marks a critical step in converting reform rhetoric into measurable action. With the IMF mission expected later this month, the coming weeks are poised to determine whether the SMP becomes a viable springboard toward macroeconomic stability and arrears clearance.