IMF says Mozambique needs further policy tightening

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IMF says Mozambique needs further policy tightening

8:48 CAT | 30 Sep 2016

International Monetary Fund (IMF) Managing Director Christine Lagarde, waits to greet British Prime Minister David Cameron, before a round table meeting at the IMF, Thursday, Jan. 15, 2015 in Washington. (AP Photo/Alex Brandon)

File photo / Christine Lagarde, Managing Director of the International Monetary Fund

Mozambique needs to raise interest rates to ensure macroeconomic stability, the International Monetary Fund’s mission to the southern African nation said on Thursday.

“With inflation still rising and the metical depreciating, further policy tightening is needed to safeguard macroeconomic stability,” the Fund said in a statement after its visit.

Source: Reuters