IMF set to assist Zimbabwe

By Gift Mashoko

International Monetary Policy (IMF) says that they it is willing to work with the Zimbabwean Government to help it move forward.

Whilst addressing delegates at the IMF Spring Meeting, the multi-national financier’s Managing Director, Christine Legarde said IMF would conduct a Staff Monitored Programme with Zimbabwe following the hardships and loss caused by Cyclone Idai and deploy the social protection framework.

“I would like to reaffirm that we will be conducting a staff monitored programme with Zimbabwe. It is particularly important that we do that expeditiously given the hardships and the loss caused by the recent cyclone and we will mobilise energy so that we support the authorities.

“I can assure you that on the issue of social protection of the most vulnerable, we will be deploying the principle by which we now operate. The social protection framework is going to come up for discussion at the board in the next few weeks and we certainly endeavour to deploy social protection principles and the work that we will do with the authorities,” she said.

Legarde went on to say that any best practice could be used to help the monetary and currency situation.

“Given the current monetary and currency situation, if used in a smart way, I hope that financial technologies can be deployed in order to include as many as possible any knowledge, any best practices that we are aware of. We will certainly make them available in the course of the weeks,” said Legarde.

The SMP is aimed at implementing a coherent set of policies that can facilitate a return to macroeconomic stability. This programme is set to assist Zimbabwe move forward. The Zimbabwean Government would never accept the SMP if it was not meant to help Zimbabwe. Besides, it has not been finalised, it is still on the table being discussed.