The World Bank Vice President for Eastern and Southern Africa, Victoria Kwakwa, last week, defended the intensification of reforms favourable to the development of the private sector in Mozambique, aiming at accelerating the country’s economic growth.
Speaking during a meeting in Washington with the Mozambican Minister of Economy and Finance, Max Tonela, as part of the spring meetings between international financial institutions and governments, Kwakwa noted the importance that the private sector plays in various nations.
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She recommended that “Mozambique should continue to implement reforms, particularly those that allow the private sector to flourish.
According to Victoria Kwakwa, the Mozambican authorities should continue to invest in policies to promote the diversification of the economy and in the efficient implementation of the Economic Acceleration Package of Measures (PAE), announced in August last year by President Filipe Nyusi, and which comprises a set of fiscal, financial, economic and administrative measures, aimed at stimulating the recovery and acceleration of the country’s growth.
In his turn, Max Tonela addressed Mozambique’s growth prospects and the challenges imposed by the negative impact of natural disasters, focusing on the effect of Cyclone Freddy and floods.
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The Spring Meetings of the World Bank and International Monetary Fund (IMF) are being held from Monday, April 10, until Sunday, April 16, in Washington, United States of America.
