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The executive board of the International Monetary Fund (IMF) has concluded the third review of Mozambique’s three-year loan program. This enables the southern African country an immediate disbursement of approximately US$60.7 million to Maputo, says the IMF officials, to tie down its immediate financial requirements
The executive board of the International Monetary Fund (IMF) has concluded the third review of Mozambique’s three-year loan program. This enables the southern African country an immediate disbursement of approximately US$60.7 million to Maputo, says the IMF officials, to tie down its immediate financial requirements.
By now, the total disbursements under the US$456 million under the Extended Credit Facility program sanctioned in 2022, stands at around US$273 million.
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The IMF affirmed in a statement that the program has resulted in a notable decrease in inflationary pressures and accelerated economic recovery. The IMF aid, among other things, is aimed at reducing the debt burden of Mozambique and shielding it from financial vulnerabilities. The program also seeks to create opportunities for public investments in crucial areas, such as human capital, climate adaptation, and infrastructure.
