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Zimbabwe has agreed a staff monitored programme with the International Monetary Fund, a senior official in the finance ministry said on Friday.
George Guvamatanga told Reuters that Zimbabwe's authorities were aiming for a 10-month staff monitored programme starting next month "if all processes can be completed in time."
"The programme is to consolidate current fiscal and monetary policy reforms," he said.
A staff monitored programme is an informal agreement between a country and IMF staff to monitor the implementation of economic programmes, when a country is not ready for a full financing programme, often due to weak institutions, domestic instability, or uncertain financing.
They help authorities build a track record of sound policy implementation and can open the door to an IMF financial arrangement, help restart one that has gone off-track, or enable repeat access to emergency assistance.
Staff monitored programmes do not entail financial assistance or endorsement by the IMF's Executive Board.
Zimbabwe has had several staff monitored programmes before, most recently between May 2019 and May 2020.
The IMF has said that it is unable to give the Southern African country a funded programme until it clears its external arrears.
(Reporting by Chris Muronzi and Colleen Goko; Editing by Alexander Winning)
