Mozambique foresees €300B to implement ENDE, grow at almost 10% per year until 2044
IMF considers that the Mozambican economy has been resilient
6:10 CAT | 19 Sep 2022
Image: Notícias
The head of the mission of the International Monetary Fund (IMF), Álvaro Piris, Alvaro Piris, on Friday hailed the resilience of the country’s economy, maintaining the outlook for a 3.8% growth despite the current “challenging” context.
“Our assessment is that the Mozambican authorities have dealt with these challenges in a right way,” given the context generated by Russia’s war in Ukraine, Álvaro Piris said.
Alvaro Piris was speaking at a press conference in Maputo at the end of an IMF staff visit to Mozambique, to assess the program signed with the government in April this year.
The macroeconomic policies and public finance management implemented by the Mozambican government should allow the Mozambican economy to recover and grow to 3.8% this year, he stressed.
The country’s performance, Piris continued, shows that it has been resilient in the face of an adverse context created by natural calamities, the Covid-19 pandemic, and rising fuel and food prices caused by the conflict between Russia and Ukraine.
This less favourable outlook should lead inflation to close the year at 11%, he added.
About the program between the IMF and the Mozambican government, Álvaro Piris underlined that Maputo has “fully complied” with what was agreed upon in April.
“Our assessment of this first phase of the program is very positive, there has been full compliance with the agreed targets and there has been significant progress in the structuring areas of the Government’s program that the IMF is supporting,” he emphasized.
Álvaro Piris dismissed, for the time being, the possibility that the fund will reinforce financial assistance to the country, after the financial institution announced in May a financial envelope of 470 million US dollars.
The head of the IMF mission to Mozambique praised the package of economic recovery measures recently approved by the Mozambican government, noting that they should stimulate companies and business.
For his part, the Minister of Economy and Finance, Max Tonela, considered the discussions with the IMF exhaustive and productive, emphasizing the commitment to compliance agreed between the two parties.
The IMF mission lasted 15 days and held meetings with several Mozambican government and state officials.
Source: Lusa
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