Mozambican Prime Minister visits Washington for meetings with IMF and World Bank

19 April 2016

Mozambique’s Prime Minister, Carlos Agostinho do Rosario is in Washington on a four-day visit to meet with the International Monetary Fund (IMF) and the World Bank (WB) following the cancellation of an IMF mission to Mozambique.

On Friday the IMF cancelled a mission to Mozambique scheduled for this week due to revelations of allegedly hidden loans in the case of the so-called “Tuna bonds,” said the director of the African Department of the fund, Antoinette Sayeh.

“The loan in question amounts to over US$1 billion and considerably changes our assessment of the economic prospects of Mozambique,” Sayeh said at the IMF headquarters in Washington.

The visit by the Mozambican prime minister coincides with the visit of a technical delegation from Mozambique also to Washington,. This delegation, along with the staff of the International Monetary Fund (IMF), will carry out an assessment of the macroeconomic situation of the country and determine steps to strengthen the relationship with the IMF an set up an instrument to support economic policies, as the current instrument is due to end in June.

In a statement issued at the weekend, the Government said the technical mission will also create conditions for a visit to Mozambique by the IMF mission, which is currently cancelled until the situation has been reviewed. (macauhub/MZ)