Zimbabwe: Request for a Staff-Monitored Program-Press Release; and Staff Report

Zimbabwe is taking steps to address its longstanding macroeconomic challenges. The country has been in debt default and excluded from international capital markets and most official financing for over 25 years, during which it experienced multiple episodes of very high inflation and economic downturns. A combination of better policies and favorable external conditions has recently brought about much needed stability, with inflation recently falling to single digits, alongside multi-year high GDP growth and current account surpluses. This favorable outlook has created a window of opportunity to consolidate recent progress and advance reforms.