Maputo: IMF presents Sub-Saharan Africa Outlook and comments on Mozambican economy

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Maputo: IMF presents Sub-Saharan Africa Outlook and comments on Mozambican economy

1:37 CAT | 20 Nov 2018

The International Monetary Fund (IMF) delegation to Mozambique will today in Maputo address its latest Regional Economic Outlook for Sub-Saharan Africa report, and comment on Mozambique’s situation in particular.

The ‘Regional Economic Outlook: Capital Flows and The Future of Work’ was presented a month ago during the IMF and World Bank Annual Meetings in Nusa Dua, Indonesia.

More details on the Fund’s Mozambique assessment are expected today during a presentation by the IMF’s Resident Representative in Mozambique, Ari Aisen.

An IMF mission has been in Maputo since last week analysing the country’s macroeconomic outlook and updating the country’s Debt Sustainability Analysis, which is currently prevent it granting financial aid to Mozambique.

“An IMF mission is currently in Maputo updating the macroeconomic framework and preparing the ground work for that exercise,” the IMF spokesman Gerry Rice said. “And they will be there over the next several weeks, including working on the joint IMF/World Bank debt sustainability analysis.”

In response to questions posed last week by Lusa, Gerry Rice added that the new financial indicators resulting from the agreement in principle reached with holders of public debt will be taken into account.

Asked if this agreement improves indicators sufficiently to allow an IMF loan, Rice replied: “We are aware that the Mozambican authorities have announced an agreement in principle on debt restructuring with a group of their Eurobond holders. Fund staff, as part of the mission that I mentioned, will study the implications of the agreement for debt sustainability in the context of the next update of the debt sustainability analysis for Mozambique.”

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Economic Outlook for Subsaharan Africa and Mozambique

Today’s presentation will be held at 4 p.m. in the Rani Towers Rovuma Conference room and seats are limited and its best to send email confirmation to: [email protected]