IMF: Resident representative in Mozambique says public debt remains unsustainable

Login

Register

http://www.clubofmozambique.com/

IMF: Resident representative in Mozambique says public debt remains unsustainable

2:35 CAT | 11 May 2018

Photo: Notícias

The International Monetary Fund’s resident representative in Mozambique, Ari Aisen, says Mozambican public debt, at around 112 percent of the gross domestic product, remains unsustainable, and warns that additional effort by the government to improve socio-economic indicators is needed.

Ari Aisen was giving an open lecture at the Pedagogical University on the theme “Economic Situation in Mozambique – Beyond Economic Statistics and Policies”.

Aisen believes that reforms in the business environment in order to allow the rapid development of the private sector and the consequent generation of jobs are necessary.

Aisen also provided an overview of the reasons behind the downturn in the Mozambican economy, highlighting the disclosure of the hidden debts and climate change contributing significantly to the scarcity and rise in prices of agricultural products.

Mozambique’s central bank reserves currently cover more than seven months of imports, excluding large projects.

Source: O País