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O País / Adriano Maleiane said that international advisers are discussing different forms of payment with debt holders
Although the IMF mission left Mozambique on July 19th without stating any position on the resumption of cooperation, the Minister of Economy and Finance, Adriano Maleiane, is not ruling out the possibility of a programme between the two parties being reached in 2018.
“I do not know who said that there will be no programme. We are working together and things are happening. The IMF is our partner,” the minister said.
Maleiane clarified the role of the IMF mission that visited the country recently, and says that nothing has been decided yet.
“They came [to Mozambique] to find out what the government is doing as far as following the recommendations of the parliamentary inquiry report and the summary of the Kroll report goes. The programme is a process and we continue to work with them at the technical team level in Washington. They came here for clarification, which is part of the work, because they have to put a proposal to the IMF Board of Directors,” he said.
The IMF mission was in Maputo from July 10 to 19 to discuss the results of the Kroll audit of the hidden debts, among other things.
In the statement released shortly after the visit to the country, the IMF said that while the audit report offers useful data on loans, there are still gaps in essential information that need to be addressed.
The Bretton Woods institution also urged the government to take steps to address the lack of information and to improve the action plan to enhance transparency, improve governance and ensure accountability.
The Mozambican authorities acknowledge that the solution to the sovereign debt crisis will involve a restructuring adjusted to the current capacity of the country. Asked about negotiations with creditors, Maleiane said there was as yet no outcome, but that the international advisors hired by the government were discussing payment scenarios with the holders of Ematum, MAM and Proindicus debt.
The minister pointed out that there had been advances in relation to the problems that worried the IMF, especially the credibility of financial information.
“Mozambique, as a member of the IMF, has already clarified the issue of debt, so from the IMF perspective the issue of misreporting ended in November 2016. What we are now discussing is how we work to bring this whole debt issue into sustainability, taking into account our capabilities,” he concluded.
Minister Maleiane was speaking in Maputo on Monday and the launch of the 2nd edition of the National Projects Fair, an Association of University Finalist Students of Mozambique initiative which aims to find answers to access to employment.
Maleiane challenged young people to develop a culture of work, and trial income-generating projects, pointing to agriculture as a sector with plenty of opportunities.Source: O País
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