Mozambique interested in receiving aid from the International Monetary Fund beyond 2013

23 April 2012

Mozambique plans to keep receiving aid from the International Monetary Fund (IMF) after 2013, said the Mozambican Finance Minister, who recognised that the country was having difficulty securing funding for its infrastructure projects due to international partners stepping away.

On the sidelines of the spring meetings of the IMF and the World Bank, in Washington, where, at a panel on developing countries, a warning was sounded about the impact of the international financial crisis on these economies, particularly in the euro zone, Minister Manuel Chang told Portuguese news agency Lusa that the international partners and donors, “are stepping away because they are also in a difficult situation in their own countries.”

“Some countries initially reduced funding after introducing some clauses on the use and payment of those funds, whilst others left,” said the Mozambican minister.

From Washington, Manuel Chang is likely to leave with assurances that the IMF aid programme for Mozambique (2010-2013) will be approved after its fourth review in June.

This second aid programme, last three years, is in its second year and the Mozambican Finance Minister has said that a third IMF programme is already being prepared. (macauhub)