Mozambique: Central bank warns of "relatively high levels" of credit defaults
The Mozambican government has constituted a technical delegation to travel to Washington, United States, following the decision by the the International Monetary Fund (IMF) to suspend cooperation with Mozambique, reported state-owned Rádio Moçambique (RM) on Saturday, in an article titled “Delegation Goes to IMF to Debate Decision of Suspending Cooperation with Mozambique”.
RM further reports that, according to a document distributed this Saturday to the press, the delegation will work with the IMF staff in assessing the situation and determine the steps to resume and strengthen the country’s relationship with the Fund.
According to the Executive, the initiative aims at establishing a new instrument to support Mozambique’s economic policies, given that the current program ends in June this year.
The government said in the same document that the delegation’s mission is to create the necessary conditions for the mission of the International Monetary Fund that is cancelled until the evaluation of the government’s debt situation.
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