An International Monetary Fund (IMF) assessment has raised concerns over Zimbabwe's fiscal transparency, revealing that the country may have understated its total public debt by approximately US$2 billion in 2024. The revelation comes after the IMF conducted a Staff Monitored Programme (SMP) assessment, which also flagged discrepancies in Zimbabwe's external debt reporting.
While the Ministry of Finance had reported Zimbabwe's public debt at US$21 billion in May 2024 during the African Development Bank's annual meetings, the IMF's 2025 Article IV Consultation Report estimates it at US$23.3 billion, with external debt alone potentially understated by about US$4.5 billion.
According to the IMF, total public and publicly guaranteed debt stood at US$23.3 billion, equivalent to 72.9% of GDP by the end of 2024. The external debt stock was US$16.7 billion (52.5% of GDP), with arrears to official creditors estimated at US$7.4 billion (23.2% of GDP). Zimbabwe also accumulated arrears to external commercial creditors amounting to US$47.4 million and suspended some domestic debt obligations totalling US$425 million in 2025.
The Fund warned that current policies were insufficient to restore debt sustainability. It recommended a combination of fiscal consolidation, strengthened public debt management, growth-promoting structural reforms, and resolution of external arrears to pave the way for renewed financing from multilateral and bilateral creditors.
This is not the first time Zimbabwe's official financial statistics have been questioned. Discrepancies have previously emerged in inflation reporting, notably during the country's hyperinflation crisis from 2007 to 2008, when official Consumer Price Index (CPI) figures sharply diverged from independent estimates.
The IMF also highlighted the Structured Dialogue Platform (SDP) as a framework for Zimbabwe's engagement with creditors, focusing on economic, political-governance, and land reform issues. Progress under the SDP has been uneven, with bilateral Paris Club creditors demanding advances on all three pillars before further engagement.
Zimbabwe is seeking debt relief and bridge financing of US$2.6 billion through the SDP's Arrears Clearance and Debt Resolution Process. Discussions with commercial creditors regarding debt moratoria have also begun. The IMF emphasised the need to reconcile Zimbabwe's debt and establish clear restructuring parameters, noting potential limitations under the G20 Common Framework and the Heavily Indebted Poor Countries (HIPC) Initiative.
Despite the challenges, Zimbabwean authorities reportedly agree with the IMF's unsustainable debt assessment and remain committed to the reengagement process. They have taken initial steps, such as making payments to farmers under bilateral investment agreements, and plan to launch a fourth SDP pillar focusing on debt resolution.
Zimbabwe's situation mirrors debt distress seen elsewhere in Southern Africa. Mozambique, Zambia, Malawi, and Angola have all grappled with high debt burdens, hidden loans, and default risks, highlighting the region-wide challenge of managing fiscal sustainability amid constrained financing options.
The IMF's findings underscore the urgency for Zimbabwe to implement a robust debt resolution strategy and improve transparency to restore credibility with international creditors and secure long-term economic stability.”
This has to be the equivalent of the father caught breast feeding whilst the kwashiorkor baby looks on! Mnangagwa has been spending billions of dollars every year on travel, cars and other luxuries to buy votes and blind loyalty of those around him at the expense of the basic needs such as education and health care, supply of water and electricity and the maintenance of basic infrastructure such as roads.
“The IMF also highlighted the Structured Dialogue Platform (SDP) as a framework for Zimbabwe's engagement with creditors, focusing on economic, political-governance, and land reform issues. Progress under the SDP has been uneven, with bilateral Paris Club creditors demanding advances on all three pillars before further engagement.” This is stating the obvious!
The real stumbling block here is political-governance. Zimbabwe is a pariah state governed by corrupt, incompetent and murderous Zanu PF thugs who have rigged elections for 45 years and counting to deny ordinary Zimbabweans a meaningful say in the governance of the country.
It must be said the nation has had many opportunities to implement the democratic reforms and thus end the Zanu PF dictatorship, the best coming during the 2008 to 2013 GNU, MDC/CCC leaders have wasted them all. Mugabe bribed Morgan Tsvangirai and his banded mongoose MDC fiends with the trappings of high office and they forgot about implementing the reforms.
Ever since the GNU debacle, MDC/CCC leaders have conned their brain dead followers to participate in flawed elections to give Zanu PF legitimacy and perpetuate the nation’s suffering for the same reason they failed to implement even one token reform during the GNU - GREED.
The people of Zimbabwe have risked all to elect MDC/CCC leaders into power on the understanding they would implement the democratic reforms to end the Zanu PF dictatorship. During the GNU Mugabe convinced Tsvangirai & co. that they were all full members of Zimbabwe’s ruling elite and he saw to it that the MDC leaders were given all the trapping of high office Mugabe had, until then, reserved for the Zanu PF ruling elite. Why would Tsvangirai & co. want to implement the democratic reforms and end the ruling elite club when they are now members.
“Mazivanhu eMDC adzidza kudya anyerere!” (MDC leaders have learned to enjoy the gravy train good life, they will never rock the boat!) boasted Zanu PF cronies during the GNU, when asked why MDC leaders were not implementing the democratic reforms.
Morgan Tsvangirai and many of his MDC fiends were really shocked by Zanu PF 2013 elections landslide victory. They knew that with no meaningful reform implemented Zanu PF would rig the elections but not to the extend of throwing out so many MDC leaders off the gravy train, after all they were members of Zimbabwe’s ruling elite, or so they thought.
Mugabe was smart enough to allow a few opposition leaders win gravy train seats to maintain the facade that Zimbabwe was still a healthy multi-party state. This was a very strategic move because it has keep the masses who have been clamouring for political change hopeful they will have the change “tomorrow”!
Tsvangirai and now Chamisa and his MDC/CCC banded mongoose have retained their political support regardless of their treasonous betrayal on implementing reforms by telling their followers they have devised strategies for winning rigged elections. They have told one hen’s teeth lie after another and again and again their followers have believed the lies!
And so political-governance has remained the elusive mirage, tomorrow always a day away, because Zanu PF will never reform itself out of power. MDC/CCC wasted the golden opportunity to implement the reforms during the GNU and now they are Zanu PF team B and have settled for the scraps like jackals at a lion kill.
The people themselves are blind to the reality MDC/CCC leaders are running with the povo hare and hunting with the Zanu PF hounds even in the face of the opposition having failed to implement even one token reform in 25 years! An ignorant, naive and gullible electorate is a curse to the nation; the people hold the key to end the curse of rigged elections and bad governance - they do not even know they have the key much less how to use it!
https://x.com/i/broadcasts/1LyxBXZWvvzGN
ReplyDeleteIMF has "exposed" that Zanu PF has been cooking up the nation's finances, no wonder Zimbabwe remains a failed state with "junk" financial ranking.
The tragedy is the nation is up to its eyes in debt and regime is squandering billions of dollars in foreign currency to buy cars, travel and other luxuries. Meanwhile the nation's education, health care and other needs are being neglected.
As long as Zimbabwe remains a pariah state nothing will change. Zanu PF will never reform itself out of office. MDC/CCC will never implement the democratic reforms, they are Zanu PF team B in all but name. If there is to be change, the people have bring about that change. They have failed to bring about any change because they are ignorant, naive and gullible!
@ Chamisa
ReplyDeleteChamisa is back with new promises of delivering change.
The people of Zimbabwe were conned to participate in the flawed 2023 elections because they believed Chamisa that CCC was going to win big. “Ini ndatanga kugatsira Cabinet. Plan yaMwari haifoiri!” Chamisa was lying and the consequences of participating was to give Zanu PF legitimacy and perpetuate the nation’s suffering.
Chamisa & co. sold out on implementing reforms during the 2008 to 2013 GNU and ever since they participated in flawed elections to give Zanu PF legitimacy in return for a few gravy train seats. Alas! The people have yet to see Chamisa & co. for whom they really are - sell out and liars!
Chamisa is going to con the nation to participate in flawed 2028 elections on the basis of yet another idiotic lie that he will win rigged elections! After 45 years of rigged elections, will Zimbabweans be so easily conned yet again to participate in flawed elections to give Zanu PF legitimacy.
https://www.youtube.com/watch?v=IuZlF-ynsP0
ReplyDeleteThere are three types of human beings, the idiots, the tribesman and the citizen.
Zimbabwe is a failed state. Are we a failed state because we have learn nothing from the past and thus are doomed to repeat our mistakes over and over again. We have made the mother of all mistakes have failed to learn who we are, the idiot, tribesman or citizen.
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained, you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.” Sun Tzu.
@ Gambiza- Ngwenya
ReplyDeleteThe sacred duty of every citizen is to hold those in public office to account. Our search for solutions should not make us forget our primary task!
https://www.facebook.com/4415858595176450/videos/2060979801395960
ReplyDeleteWicknell Chivhayo reward Madzibaba "Sapatina Sapatina" for singing the praises of Mnangagwa with US$65k new car plus US$20k cash. Where i Chivhayo getting the money and why reward Madzibaba.
One source of Chivhayo's fortune: he won the exclusive right to buy Starlink services at US$30 and sell then at US$175 per month. He is thanking Madzibaba Sapatina for praising Mnangagwa on ED's behalf the latter's share of Starlink contract and other similar exclusive deals.
The people's failure to realise they are the ones paying dearly for these trinkets presents from Mnangagwa and his cronies, bought from wholesale looting of the nation's wealth and at national expense!
https://www.facebook.com/4415858595176450/videos/4106212796263238
ReplyDelete"Give me 6 hours to chop down the tree, I will spend 4 hours sharpening the axe," said American President Abraham Lincoln.
We have given MDC/CCC leaders 25 YEARS to implement the necessary democratic changes to end the Zanu PF dictatorship. Zanu PF blatantly rigged 2023 elections and got away with it because Chamisa & co. not only sold out on reforms but conned the nation to participate in flawed elections to give Zanu PF legitimacy.
If we are serious about ending the dictatorship, ending the curse of 45 years of rigged elections and bad governance, then we must think outside the box. We can continue to focus on Zanu PF, that will change nothing. What we need is a competent opposition that WILL implement the reforms. We need a sharp axe!
@ Chinyadza
ReplyDeleteHolding MDC/CCC leaders to account does not stop you holding Zanu PF to account and the reverse is equally true, holding Zanu PF to account should not stop you holding the opposition to account. People with the tribesman mentality, with blind loyalty to the party, they hold one to account but not both because they consider the two as mutually exclusive.
@ Chamisa
ReplyDeletePeople have said you, Chamisa, lied about plugging the vote rigging loop holes to con people to participate in flawed 2023 elections to give Zanu PF legitimacy and perpetuate the nation’s suffering. These people are not lying. You did lie!
You are gearing to lie and con the nation to participate in flawed 2028.
You are a liar and conman and if the nation is ever going to put an end to the curse of rigged elections and bad governance - you must be stopped!
@ Lionel
ReplyDeleteHas it ever occurred to you that 2 m participated in flawed 2023 elections because they believed that Chamisa plugged all the vote rigging loop holes to stop Zanu PF rigging the elections. Now it turns out that he failed to stop Sengezo Tshabangu, whom you berate, infiltrating CCC and taking over the party. Tshabangu outwitted Chamisa so much so that Chamisa abandon the party in a huff.
So the 2m believed a liar and upstart who was out then classed by Sengezo Tshabangu. It speaks volumes of the 2m!
Now Chamisa is back to lie and con the brain dead 2 m once again! No wonder we are a failed state, we really have some brain dead people and, to crown it all, they have the vote!
@ Lionel
ReplyDeleteHow naive! Do you know what rigged elections are? Zanu PF has rigged elections and stayed in power for the last 45 years. The primary purpose of implementing the reforms is to stop Zanu PF rigging the elections. All Chamisa has been doing is participate in flawed elections to give Zanu PF legitimacy. Why you are pleased with that beggars belief!
https://www.youtube.com/watch?v=uXvPP-zdFr8
ReplyDeleteIt is rich for Eddie Cross to be calling for an end to the corruption, when everyone knows that Zanu PF has control of everything. All the state institutions including the opposition. Eddie Cross, of all people, should know that; he was in the opposition that has failed to implement even one token reform in 25 years including the 5 GNU years.
It is utterly pointless of stop Zanu PF corruption, it's like belling the cat!
Change in Zimbabwe will not happen until we cure ourselves of the curse of rigged elections and bad governance.