HARARE , Zimbabwe ( CNN ) -- A power-sharing deal has been reached between Zimbabwean President Robert Mugabe and the opposition Movement for Democratic Change , South African President Thabo Mbeki said . Zimbabwe President Robert Mugabe , left , and opposition leader Morgan Tsvangirai . Mbeki , who mediated the talks in Harare for the Southern African Development Community , said the deal would be signed Monday but did not give details of the agreement . Zimbabwe has had no Cabinet since the March presidential election that started the impasse . Opposition lawmakers booed and heckled Mugabe when he spoke at the opening of the country 's parliament August 26 . MDC leader Morgan Tsvangirai won the most votes in that election , but not enough to avoid a runoff , according to the government 's official count . He withdrew from the June 27 runoff days before the vote , saying Mugabe 's supporters had waged a campaign of violence and intimidation against opposition supporters . The main sticking point in the talks had been how much power Mugabe would retain . Tsvangirai had said he would sign a deal only if Mugabe gave up some power and his presidency became a ceremonial position . United Nations Secretary-General Ban Ki-moon welcomed the agreement , according to a statement released by his spokesperson , and `` hopes that this agreement will pave the way for a durable peace and recovery in the country and contribute to rapid improvement in the welfare and human rights of the people of Zimbabwe . '' The country is also reeling from hyper-inflation . In August , the country 's Central Statistical Office said inflation was at 11.2 million percent , the highest in the world . Analysts have said the Zimbabwean government 's official inflation rate figures are conservative . One of Zimbabwe 's leading banks , Kingdom Bank , said the country 's inflation rate was more than 20 million percent . The economic crisis has destroyed Zimbabwe 's currency and made it difficult for Zimbabweans to buy basic commodities , electricity , fuel and medicines .
Both leaders have terms for sharing power , South African president says . President Obama , who led mediation talks , said deal will be signed Monday . Zimbabwe has been in political turmoil since controversial events in June .