HARARE-(MaraviPost)-International Monetary Fund (IMF) has trimmed its growth forecast for Zimbabwe in 2027, citing the impact of an anticipated drought, even as it upgraded its assessment for last year.
In its latest review, the Fund said it now expects the economy to expand by 3.5% in 2027, down from its earlier projection of 4.5%. The downgrade reflects the expected toll of poor rains.
The IMF has maintained its 2026 forecast at 5%.
For 2025, the Fund raised its estimate to 8.3%, up from 7.5% previously.
It warned that the 2027 outlook already factors in the government’s planned drought response, and could deteriorate further if the dry spell is more severe than expected or if mitigation measures are delayed or prove less effective.
The assessment was contained in the Fund’s second review under its Staff-Monitored Program for Zimbabwe. The IMF said fiscal performance through end-June was stronger than anticipated.
However, it flagged persistent concerns over spending priorities, saying a “shortfall in protected social and priority spending remains a significant concern.”
In a separate development, Zimbabwean banker Mary-Jean Moyo has been appointed as the International Finance Corporation’s Division Director for Tanzania, Burundi, Democratic Republic of Congo, Malawi, Zambia and Zimbabwe.
The IFC is the World Bank Group’s private-sector investment arm.
Moyo previously served as Chief of Staff to the IFC Managing Director. Before joining the World Bank Group, she worked in commercial banking in Zimbabwe, at the central bank in Botswana and in private equity.
Leave a Reply