This archive report was first published on 17 November 2021.
On November 16, 2021, the International Monetary Fund (IMF) concluded a month-long virtual mission to Zimbabwe, assessing the country's economic situation.
The IMF stated that it was unable to offer any financial support to Zimbabwe due to its unsustainable debt and outstanding arrears.
According to the IMF, a financial arrangement would require a clear path to comprehensive restructuring of Zimbabwe's external debt, including the clearance of arrears and obtaining financing assurances from creditors.
Despite significant efforts by authorities to stem inflation, contain budget deficits, and reserve money growth, Zimbabwe's debt remains a major concern.
The country has more than $10 billion in debt, most of which is in arrears, and has not received funding from lenders like the IMF and the World Bank for over two decades.
After several years of economic contraction, the IMF forecast that Zimbabwe's economy would expand by six percent in 2021, but the country still faces severe economic challenges.
Decades of financial mismanagement under the late former president Robert Mugabe have left Zimbabwe in a precarious economic situation, with many struggling to access basic necessities.
