This paper discusses Zimbabweas Third Review Under the Staff-Monitored Program (SMP) and the successor SMP. Zimbabwe has succeeded in keeping macroeconomic conditions relatively stable, despite difficult political and economic circumstances. In particular, the precarious external position improved somewhat, with higher international reserves and a projected lower current account deficit in 2014. The SMP will cover a 15-month period, October 2014 through December 2015, and will be monitored based on quantitative targets and structural benchmarks. The IMF staff welcomes the authoritiesa intention to continue to seek financing through grants or loans that are as concessional as possible, and to limit contracting nonconcessional loans within the ceilings set under the program.They arecommitted togranting only one salary adjustmentin 2015, as they did in 2013 and2014. ... Furthermore, the Civil Service Commission (CSC) is currently undertakinga restructuring exercise aimed at aligning ministriesa#39; staffing with their anbsp;...
|Title||:||Zimbabwe: Third Review Under the Staff-Monitored Program and Successor Staff-Monitored Program-Staff Report ; and Press Release|
|Author||:||International Monetary Fund. African Dept.|
|Publisher||:||International Monetary Fund - 2014-11-21|