IMF calls for Mozambican government to publish mining contracts

8 June 2012

The representative of the International Monetary Fund (IMF) for Mozambique Thursday in Maputo called for the Mozambican government to publish the contracts it has signed with mining companies in the country.

At the end of a talk on the regional economic outlook for sub-Saharan Africa, Victor Lledó also called for the Mozambican government to draw up standard contracts that comply with international standards.

“The contracts have competition clauses that, in principle, should remain confidential to protect the companies that sign them, but from a fiscal point of view they should be made public,” Lledó said.

Meanwhile the board of the IMF this week approved the fourth review of the Policy Support Instrument (PSI), a programme that supports low income countries that do not need or want financial support, but which want to consolidate their economic performance with support from the IMF.

The IMF made a positive analysis of Mozambique’s economic performance and congratulated the government, “for the efforts made to execute appropriate economic and structural reform policies,” noting that economic growth had remained steady in 20122 and that inflation has been successfully contained. (macauhub)