IMF to visit Mozambique for further talks next month on support options
The International Monetary Fund's mission chief announced on Tuesday that the IMF will visit Mozambique to continue discussions about the country's macroeconomic problems and possible financial assistance in November.
TotalEnergies is preparing to resume its work on a multi-billion dollar liquefied gas project. This project will boost economic growth and revenue once it begins producing gas at the end of this decade.
Pablo Lopez Murphy, IMF mission chief in Mozambique, said that the consultation will be part of 2025 Article IV and will assess policy priorities, balance-of-payments forecasts and financing needs.
Bo Li, IMF's Deputy Managing director, hosted Daniel Chapo, the President of Mozambique at its headquarters on Monday. Lopez Murphy described these talks as productive.
The last IMF program for Mozambique ended in early this year when the country agreed to not proceed with any further reviews of an Extended Credit Facility and requested a new programme.
Staff at the IMF said in August that decisive actions were needed to restore macroeconomic stabilization after a sharp decline in growth during the months following last year's disputed elections.
The IMF recommends a front-loaded fiscal consolidation as well as greater flexibility in exchange rates.
(source: Reuters)
