MAPUTO, Jul 8 (NNN-AIM) – The International Monetary Fund (IMF), said yesterday that, its executive board has completed the second review of a three-year loan programme for Mozambique, which greenlights an immediate disbursement to Maputo of 60.6 million U.S. dollars.
The initiative aims at economic recovery, reducing public debt and financial vulnerability, while promoting inclusive growth through structural reforms in the nation, the IMF said in a statement, yesterday. It has brought Mozambique’s total disbursements under the Extended Credit Facility arrangement to 212.09 million dollars.
According to the IMF review, based on the performance of the programme, the Mozambican government adopted substantial measures to resolutely face the macroeconomic challenges and fully comply with the agency’s requirements, in particular the maintenance of a fiscal perspective in line with the established targets.
In response to the IMF’s announcement, the Mozambican government said that, the financing is a demonstration of the financial institution’s confidence in the country.
“This financing means that, the country is implementing substantial policy reforms and measures, with a view to macroeconomic stability, inclusive growth, and that the IMF looks favourably on the Mozambican government’s programmes, measures and reforms, that the government has been taking to implement and achieve the ultimate goal of inclusive growth,” said Enilde Sarmento, national director of economic polices and development at the Ministry of Economy and Finance.
