New IMF mission arrives in Maputo to analyse Mozambican economy

1 December 2017

A mission from the International Monetary Fund (IMF) that arrived on Thursday in Maputo is due to stay in Mozambique until 13 December, according to the IMF representative in Mozambique, Ari Aisen.

The IMF representative said the aim of this mission is to assess “the current economic situation and make recommendations,” as well as follow-up on the audit carried out by Kroll Associates UK of state companies Empresa Moçambicana de Atum (Ematum), Proindicus and Mozambique Asset Management (MAM).

The IMF and the group of 14 donors to the Mozambican state budget in 2016 suspended transfers following the scandal of hidden debts of those three public companies, with the IMF making full disclosure of the audit report a condition for resumption of talks with the government of Mozambique to sign a financial aid plan.

The Minister of Finance, Adriano Maleiane said this month that the country needs to resume international support and that is working on providing information about what happened to US$2 billion of the loans secured with the endorsement of the State.

“The explanations are a condition for negotiations to happen, so signing a new agreement is not on the agenda of the mission that begins today,” said Ari Aisen, on Thursday in Maputo. (macauhub)