Government of Mozambique complies with IMF recommendations

2 September 2016

The Minister of Economy and Finance of Mozambique on Thursday restated the government’s commitment to comply with the recommendations and the timetable set out by the International Monetary Fund (IMF) last April, Mozambican newspaper Notícias reported.

Minister Adriano Maleiane, who was speaking during a visit by President of the Republic to the Maputo International Fair, said the government has maintained contacts with the IMF, which is due to send a mission to Mozambique this month.

Maleiane said the Mozambican government is working actively to clarify so-called hidden debts – debts taken on by public companies with a State guarantee – and said that the IMF mission will carry out the “assessment required of it.”

The minister pointed out the adoption last July of a revised state budget, with a package of austerity measures, such as compliance with the recommendations of an IMF mission, which visited the country in June.

The disclosure of loans that were taken on between 2013 and 2014 without consulting Parliament, international financial institutions and donors, has led the IMF and major donors to suspend financial aid to the country. (macauhub/MZ)

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