In a significant development, an International Monetary Fund (IMF) team is set to visit Zimbabwe later this month to evaluate the performance of the country's newly introduced currency, the Zimbabwe Gold (ZiG), as well as the overall state of the Zimbabwean economy.
The Bretton Woods institution's assessment comes just two months after the launch of the ZiG, which has already garnered the attention of global multilateral organizations.
During a recent media briefing, IMF Communications Department Director Ms. Julie Kozack revealed that the team will engage with Zimbabwean government officials, the private sector, the central bank, and fiscal authorities to analyze the impact of the ZiG in stabilizing the local economy.
"Our staff is expected for the Article IV Consultations later this month, and we will also be evaluating the entire Zimbabwean economy and the performance of the newly introduced currency, the Zimbabwe Gold," Ms. Kozack stated. "We stand ready to offer the necessary support during the course of our meetings."
Zimbabwe is also anticipating the signing of an IMF Staff Monitored Programme in October, which would provide an opportunity to clear outstanding arrears to global creditors, attract Foreign Direct Investment, and maintain positive annual growth rates.
The government of Zimbabwe sees the IMF team's visit as a chance to strengthen ties with the international financial institution and receive the necessary support for the country's economic recovery efforts.
