{"id":93422,"date":"2024-04-21T11:22:24","date_gmt":"2024-04-21T09:22:24","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says"},"modified":"2024-04-21T19:00:35","modified_gmt":"2024-04-21T17:00:35","slug":"zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says","title":{"rendered":"Zimbabwe expects IMF programme in second half of year, finance minister says"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>HARARE \u2013 \u2013 Zimbabwe\u2019s Finance Minister Mthuli Ncube said on Friday that a staff-monitored programme with the International Monetary Fund would be delayed until the third quarter of 2024 after the country introduced a new currency, Zimbabwe Gold (ZiG).<\/p>\n

An IMF programme would be part of the southern African country\u2019s efforts to re-engage with the international financial community by demonstrating a track record of sound economic policies.<\/p>\n

Zimbabwe had said last year that it hoped to have a programme agreed by April 2024, but that was delayed due to the introduction of the ZiG this month.<\/p>\n

\u201cWe have moved the (staff-monitored programme) to the third quarter due to the new currency. We should not rush these things,\u201d Ncube said on the sidelines of the World Bank and IMF spring meetings in Washington.<\/p>\n

The government hopes that the gold-backed ZiG will be more stable and end the cycle of high inflation.<\/p>\n

Ncube said the ZiG still needed time to be fully operational before engagements with the IMF could progress.<\/p>\n

The new currency is Zimbabwe\u2019s third in a decade, and has already faced challenges being adopted by informal market traders and customers. ZiG currently trades at 13.31 to the dollar, but black-market traders are selling it at 20 ZiG to the dollar.<\/p>\n

\u201cWhoever is trading on the alternative market is doing money laundering,\u201d said Finance Secretary George Guvamatanga at the media briefing, saying the government would crack down on this.<\/p>\n

Ncube added that the country was making inroads on discussions around its debt arrears clearance.<\/p>\n

Zimbabwe has been locked out of international financial markets for more than two decades but recently committed to clearing about $6 billion in external debt.<\/p>\n

\u201cAs part of the traditional methods of clearing arrears, Zimbabwe would need a sponsor… and we need about $2 billion,\u201d said Ncube.<\/p>\n

He added that they would be focusing on the World Bank and African Development Bank arrears, while looking to find additional sponsors.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. HARARE \u2013 \u2013 Zimbabwe\u2019s Finance Minister Mthuli Ncube said on Friday that a staff-monitored programme with the International Monetary Fund would be delayed until the third quarter of 2024 after the country introduced a new currency, Zimbabwe Gold (ZiG). An IMF programme would be part of the southern African country\u2019s efforts to […]<\/p>\n","protected":false},"author":84,"featured_media":93421,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,19],"class_list":["post-93422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nZimbabwe expects IMF programme in second half of year, finance minister says - zimbabwe<\/title>\n<meta name=\"description\" content=\"HARARE \u2013 \u2013 Zimbabwe\u2019s Finance Minister Mthuli Ncube said on Friday that a staff-monitored programme with the Internation ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zimbabwe expects IMF programme in second half of year, finance minister says\" \/>\n<meta property=\"og:description\" content=\"HARARE \u2013 \u2013 Zimbabwe\u2019s Finance Minister Mthuli Ncube said on Friday that a staff-monitored programme with the Internation ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-21T09:22:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-21T17:00:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/04\/sm_1713686495.813124.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1078\" \/>\n\t<meta property=\"og:image:height\" content=\"642\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zimbabwe expects IMF programme in second half of year, finance minister says\",\"datePublished\":\"2024-04-21T09:22:24+00:00\",\"dateModified\":\"2024-04-21T17:00:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says\"},\"wordCount\":341,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/04\/sm_1713686495.813124.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-expects-imf-programme-in-second-half-of-year-finance-minister-says\",\"name\":\"Zimbabwe expects IMF programme in second half of year, finance minister says - 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