Mozambican government plans to resume IMF funding “as soon as possible”

13 September 2019

The Mozambican government will “do its utmost” to reach an agreement to resume financing from the International Monetary Fund (IMF) “as soon as possible,” said the Minister of Industry and Trade on Thursday in Maputo.

Deprived of direct external funds to the State Budget since April 2016, following the hidden debt scandal, the Mozambican Government wants to enter the next government cycle with a “clean slate”, with the situation resolved, according to Mozambican newspaper O País.

“We are not ashamed to admit this (hidden debts). We will honour our commitments and look forward to the resumption of funding from the International Monetary Fund as soon as possible. We’re working on it,” said Ragendra de Sousa, at the launch session of the 17th Annual Private Sector Conference (CASP) 2020.

Referring specifically to CASP 2020, the Minister for Industry and Trade argued that it was an appropriate platform for the Government and the private sector to deepen public/private dialogue for the materialisation of legal and administrative reforms to improve the business environment in the country.

Under the motto, “Creating a business environment for economic diversification,” CASP-2020 will bring together around 2,000 Mozambican and international businesspeople to focus on the business environment, promote investment and partnerships for the economic development of Mozambique. (Macauhub)