The use of Staff-monitored Programmes to help Zimbabwe economic development

STAFF-monitored Programmes (SMPs) are informal arrangements made between authorities of various countries and the International Monetary Fund (IMF) in a bid to monitor economic programmes set by different states. Economic policies under the SMP emphasise on implementing a large fiscal adjustment, the elimination of the central bank financing of the fiscal deficit, and adoption of reforms to allow effective functioning market-based foreign exchange and debt markets. The SMP also requires that authorities have effective corruption combating mechanisms in place to ensure there are no leakages as far as financial resources are concerned. Can SMP really help Zimbabwe’s economy ?