Zimbabwe must be ready for the bitter medicine of higher taxes and spending cuts if it takes up a staff-monitored programme (SMP) with the IMF, the World Bank warns in a new report. Under an SMP, the IMF and Zimbabwe would agree on a set of economic programmes that the Fund would monitor. Zimbabwe and the IMF plan to open talks for the programme this quarter, as part of a broader bid by the government to please creditors and win a deal to restructure its debt arrears. An IMF team is currently in Zimbabwe to discuss progress towards the programme. This is a good idea, the World Bank says in the Zimbabwe Economic Update, launched today. But the country would need to make some tough decisions on spending cuts and taxes. The report makes recommendations on some key reforms Zimbabwe needs https://newzwire.live/world-bank-to-zimbabwe-imf-programme-comes-with-bitter-medicine/