Finance minister Mthuli Ncube's austerity plans for Zimbabwe received the nod at the spring meetings of the International Monetary Fund (IMF) and World Bank in Bali, Indonesia.
This was a crucial first step for President Emmerson Mnangagwa's government to find acceptance among international financiers.
Since 1999, Zimbabwe has received no support from the Bretton Woods institutions, and its coffers were further hit by sanctions from the West.
Ncube's austerity plan involves cuts to government spending and the state wage bill, and the privatisation of loss-making state-owned firms.
There is, however, no indication that the IMF and World Bank are prepared to immediately provide fresh credit lines to Harare.
The international financiers said Ncube must first "judiciously" implement his programme.
Debt of $2bn stands in the way. Part of the plan Ncube presented is to seek staggered repayments of the debt over three years.
"All the co-operating partners and creditors present uniformly expressed their support for Zimbabwe and its arrears clearance road map," said the minister.
But as he courted the international financial institutions in Indonesia, police in Zimbabwe on Thursday blocked an attempt to protest by the Zimbabwe Congress of Trade Unions (ZCTU).
The ZCTU called for a nationwide protest over the worsening economic situation and in particular over a money transfer tax Ncube intends to introduce.
The tax will see the government collect 2c for every dollar in all electronic transactions as it attempts to increase its tax revenue.
The police banned the protest on the grounds that, due to the cholera outbreak, a state of emergency banning public gatherings was still in place.
Kumbirai Mafunda, a spokesperson for Zimbabwe Lawyers for Human Rights, which is representing ZCTU members, said that nearly 40 people had been arrested before the protests could get under way in Harare, Mutare and Masvingo.
Mnangagwa has risen to power largely on the back of a promise to fix the economy. His mantra in office has been "Zimbabwe is open for business".
Earlier this month Ncube rebased the size of Zimbabwe's economy to $25.8bn from $18bn - a move economists said was deceptive as there had been no growth in the economy over the past few years.
For nearly a decade, the country has not had a currency of its own, having adopted the US dollar in February 2009.
Attempts to make the rand the official trading currency have been resisted by Harare's rulers, though this has found acceptance among industry and businesses. SA is Zimbabwe's largest trading partner...