Mozambican currency closes week stable against the Euro and US dollar
A mission of the International Monetary Fund (IMF) is in Mozambique for consultations with local authorities on the country’s macroeconomic situation, Mozambican Economy and Finance Minister Adriano Maleiane said on Tuesday.
“An IMF mission is here to see where we are [in terms of the macroeconomic situation] and to analyse the best instruments to help Mozambique,” said Adriano Maleiane.
The presence of technicians from the IMF is part of regular consultations with the government on the country’s situation, said Maleiane, speaking at a conference organised by the Financial Times.
The Minister of Economy and Finance said that the mission falls within the scope of Article IV, an instrument that the IMF uses to provide technical assistance to States that request it and does not include financial assistance.
Asked about the possibility of the Mozambican government requesting financial assistance from the IMF, Adriano Maleiane said only that the two sides always analyse the best form of cooperation.
“I can say that the IMF is available to discuss how best to cooperate with us,” Maleiane said.
The IMF suspended financial aid to the country in 2016 following the discovery of debts secretly endorsed by the previous Mozambican government on behalf of public companies linked to fishing and maritime safety.
For his part, the IMF’s representative in Mozambique, Ari Aisen, considered the cooperation with Mozambique to be good, noting the authorities’ commitment to transparency and good governance in the face of the hidden debt scandal.
“The discovery of hidden debts has made the need to strengthen good governance and transparency more consistently,” said Aisen.Source: Lusa