Johnson Progress

An International Monetary Fund (IMF) staff mission, led by Mr Wojciech Maliszewski, concluded a week-long visit to Zimbabwe from October 29 to November 5, 2025, acknowledging a stronger-than-expected economic recovery anchored by a vibrant agriculture sector, solid mining performance, and easing inflation underpinned by a stable exchange rate.

 

According to Mr Maliszewski, Zimbabwe’s economy had shown “remarkable resilience” in 2025, exceeding earlier projections.

 

“Zimbabwe’s economic recovery in 2025 is stronger than previously anticipated, supported by the rebound in agriculture and solid performances in mining, while inflation has continued to ease significantly, aided by a stable foreign exchange rate,” he said.

 

The economy is expected to maintain strong momentum in 2026.

 

The IMF mission emphasized the importance of reinforcing fiscal discipline in the upcoming 2026 National Budget.

 

“Aligning expenditures with revenues and adopting credible financing frameworks are critical to safeguarding macroeconomic stability and maintaining investor confidence,” the statement emphasized.

 

During the mission, the IMF team met with Finance and Economic Development Minister Prof Mthuli Ncube, Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu, and senior government officials, as well as representatives of the private sector and civil society.

 

The IMF expressed appreciation to the Zimbabwean authorities for their “warm hospitality, open dialogue, and excellent cooperation”.

 

The IMF also reaffirmed its readiness to resume discussions on a Staff-Monitored Program (SMP) once progress is achieved on key policy priorities highlighted in the 2025 Article IV consultations.

 

These include budget transparency, effective monetary policy coordination, and structural reforms aimed at fostering inclusive and sustainable growth.

 

Zimbabwe’s economic rebound in 2025 is attributed to a recovery in agriculture, solid mining performance, and easing inflation amid exchange rate stability.

 

The IMF projects the economy to grow by 6% in 2025 and 5% in 2026, driven by agricultural recovery and sustained commodity tailwinds.

 

The IMF’s positive assessment offers a glimmer of hope for an economy that has struggled with high inflation and currency instability.

 

However, the IMF staff emphasized that sustaining this momentum requires prudent fiscal management and structural reforms.