Zimbabwe intensifies commitment to reengage international financial institutions

Zimbabwe has intensified its commitment to reengage with the international financial institutions namely, the IMF, World Bank and ADB among others.

In a statement the National Association of Non-governmental Organisation stated that due to a huge debt overhang, Zimbabwe has not been getting financial support from these institutions.

"The Ministry of Finance and Economic Development has developed a strategy for clearing Zimbabwe's external arrears to IFIs as was presented Hon P Chinamasa, at sidelines of the October 2015 Annual Meetings of the IMF and World Bank in Lima, Peru," reads the statement.

"Zimbabwe has since been implementing the IMF Staff Monitored Programme (SMP) whose objective is to support the implementation of key economic reforms needed to foster development and reduce poverty. A key requirement for full re-engagement with the IFIs is the development of a Poverty Reduction Strategy Plan (PRSP), which provides the framework for targeted interventions to reduce poverty and promote economic development."

Nango stated that the initial phase will be implemented for two years until 2018 resulting in an Interim Poverty Reduction Strategy Plan (iPRSP), and thereafter a comprehensive PRSP will be developed which will probably be a five-year period.

The development of the PRSP is being done through wide consultations.

Mandi Chimene, the Manicaland Provincial Affairs Minister was the Guest of Honour at the Provincial iPRSP Consultative Meetings held in Mutare on the 19th of May 2016 also attended by the Manicaland Provincial Administrator and the Permanent Secretary in the Ministry of Finance and Economic Development

In this regards, the Ministry of Finance and Economic Development and the National Association of Non Governmental Organizations (and its partners) jointly hosted national, provincial and district consultative meetings nationwide to gather opinions to inform the development of the IPRSP.

"Due to time and resource limitations it was not possible for the consultations to be held in all the provincial and districts within Zimbabwe. However a random sample of the following provinces was selected Midlands, Matebeleland, Manicaland, Mashonaland West and Masvingo for hosting the provincial level consultations. In addition district level consultations were held in Umzingwane, Nkayi, Mudzi and Centenary," Nango stated.

"The thematic issues were categorised in to five pillars which are: Pillar 1: Social Sector Policies and Expenditures, Pillar 2: Agriculture Productivity, Growth and Rural Food Security and Nutrition, Pillar 3: Private Sector, Pillar 4: Environment and Climate Change, and Pillar 5: Strengthening Governance and Institutional Capacity. The national, provincial and district consultative meetings are now complete."

Accordingly, Nango invites interested individuals and organizational to make written submissions on or before the 22nd of June 2016 of priority areas for consideration in the development of the iPRSP.

All submissions must be directed to Mr. L. Mandishara, the NANGO Head of the Poverty Reduction and Development on leonard.mandishara@gmail.com  copying the IPRSP National Coordinator Dr. J. Chipika  on jchipika@gmail.com.