Despite making some positive changes, the IMF and World Bank Debt Sustainability Framework review has ignored fundamental issues, as risk of new crises persist.
The allocation of special drawing rights to Zimbabwe have stirred controversy about whether the country should use these to bolster its flagging public finances, while the fragile coalition government struggles with an external debt burden projected by the IMF to hit almost $7 billion by the end of the year.
In September the IMF executive board praised Zimbabwe's efforts to repay its debts to the Fund and relaxed restrictions on technical assistance.
In March the Zimbabwean cabinet agreed to a new debt relief strategy that includes recourse to the IMF and World Bank's Highly Indebted Poor Countries (HIPC) initiative.
The IMF board announced in mid February that the voting rights of Zimbabwe would be restored after seven years of suspension for unpaid debt, meaning that Zimbabwe can now participate in Fund decision making.
In November 250 representatives of civil society met in Harare for the first Zimbabwe national forum of the joint NGO-WB SAPRI (Structural Adjustment Participatory Review Initiative).
The IMF has agreed to lend US$7.32 bn to the Zimbabwean government despite continued concerns about corruption in the land reform process; the cost of supporting Zimbabwean troops in the Democratic Republic of Congo (DRC); a planned privatisation of the Hwange power plant; and the reintroduction of price controls.