Mozambique: Deflation of 0.38% in April
Mozambique: IMF begins financial programme negotiations
6:37 CAT | 01 Feb 2022
in file CoM
The International Monetary Fund (IMF) has begun a mission to Mozambique to “negotiate a possible financial programme,” sources from the ministry of finance and the fund told Lusa on Tuesday.
The meetings between the parties are being held in virtual format due to measures to prevent Covid-19.
The mission is expected to last two weeks.
The IMF announced in December that negotiations on an Extended Fund Programme would start at the end of January.
“A Fund-supported programme can help ease financial pressures in a context of economic recovery, support the authorities’ agenda to reduce poverty and restore equitable and sustainable growth,” it said at the time in a statement.
The IMF was one of the partners to suspend direct aid to Mozambique in 2016 following the discovery of the state’s hidden debt scandal, worth US$2.7 billion (€2.4 billion).
Financial injections to government coffers would then resume post-cyclone aid in 2019 and tackle the pandemic in 2020.
Source: Lusa
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