Mozambique: IMF and World Bank mission visits Planning and Budget Commission – Watch

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Mozambique: IMF and World Bank mission visits Planning and Budget Commission – Watch

2:57 CAT | 16 Nov 2022

Screen grab: TVM

An IMF and World Bank mission is in Maputo until Friday to support the government in improving public debt ratio and treasury management.

A delegation this Tuesday met the chairman of the Planning and Budget Commission of the Assembly of the Republic, deputy António Niquice, at a time when the country’s public debt is unsustainable.

“We are here in Mozambique,” explained head of mission, Felipe Bardella, “to provide technical assistance, as a team from the IMF and the World Bank, working together, at the request of the Mozambican Ministry of Economy and Finance and the Bank of Mozambique, to contribute to the process of improving functions of public finance management, conducted by these two institutions.”

Bardella explained that the reason for visiting parliament was to brief the Planning and Budget Commission, which also participates in the process of sound management of public finances in the country, and is always in contact with all the actors that are part of the process, recommending that the parties involved always adopt the best international practices and contribute to the development of practices applied in Mozambique.

Without giving details, the head of mission said that, at the end of the technical assistance to the government, a report would be presented covering the main aspects that were addressed during the visit.

“Technical matters are related to treasury operational issues, public management operational procedures, budget formulation, fiscal risks that all countries face, planning of the macro fiscal scenario, among other factors that contribute to the good management of public affairs,” Bardella explained.

After the meeting, the President of the Parliamentary Committee counselled the government to use the opportunity to acquire more knowledge about public finance management.

The World Bank and IMF mission has been working in Mozambique with the Ministry of Economy and Finance and the Bank of Mozambique since Monday (14-11).

Source: O País / TVM