International Monetary Fund[Credit: the United Nations] Mozambique President[Credit: Reuters]
The International Monetary Fund’s executive board has completed the third review of Mozambique’s three-year loan programme for an immediate disbursement of $60.7 million to Maputo.
The review brings total disbursements under the $456 million Extended Credit Facility programme approved in 2022 to about $273 million, IMF said.
“Programme performance has been satisfactory,” IMF said.
It added that inflationary pressures had declined sharply and the economic recovery is accelerating.
The three-year arrangement is expected to support economic recovery and policies to reduce public debt and financing vulnerabilities.
It will also create space for public investments in human capital, climate adaptation and infrastructure.
(Reuters/NAN)
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