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IMF mission expected in Mozambique this month

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A team from the International Monetary Fund (IMF) is expected, this month, to visit Mozambique, said the Minister for the Economy and Finance, during the second investment summit promoted by UK newspaper the Financial Times in partnership with the Standard Bank.

Adriano Maleiane said that, notwithstanding the suspension of financial support programmes following the disclosure of loans taken on by public enterprises in the country, Mozambique remains a member of the IMF and “relations with the organisation are still perfect.”

The Minister acknowledged that Mozambique still need urgent financial aid from the IMF and other partners in order to consolidate reforms, which are now underway.

He noted, for example, that for the reform of the State payroll the government needs US$300 million in order to adapt the pension fund to new sustainable standards, according to daily newspaper Noticias.

Adding other funds that are needed, particularly to restructure public enterprises and boost the private sector, the required value may amount to US$1 billion.

The IMF resident representative in Mozambique, Ari Aisen, recognised the progress made by Mozambique after the suspension of aid, but reiterated that it can only be resumed after meeting the requirements presented by the IMF board about where part of the sovereign-guaranteed funding was applied.

Prime Minister Carlos Agostinho do Rosário said to proceed at the opening of the conference that the government expects a growth rate of 4.7% this year and 5.3% in 2018, bolstered by the performance of the agriculture, retail, extractive industry and transport and communications sectors.

The rate of inflation, in turn, should continue on the current downward trajectory, reaching 11.9% in 2018, which will allow interest rates in the banking system to be reduced.

Source: Macauhub

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One comment

  1. Mozambique have a good government now nyusi is working hard but he have to control the police department they have killed the province of cabo Delgado poor comersial no money because they are looting strangers from other Africa Country they take all your money & your mobile because you are stranger pls Mr President talk to them all country’s in the world have strangers & you can’t make it alone good revenue can boost buy strangers that do bzns in the province we all are Africans Angola did that b4 but today they have changed now they need people even to teaching them English pls let police live people to live & do good bzns in the province freely with out fear even the local people are not happy but don’t have any thing to say . thanks for corporation

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