IMF analyses future relations with Mozambique in Maputo

11 February 2020

A mission from the International Monetary Fund (IMF) headed by the deputy director-general Tao Zhang is in Maputo to analyse the current and future relationship with the government of Mozambique, reported the Mozambican press.

During their stay in Mozambique, the IMF delegation will hold talks with the Minister of Economy and Finance, Adriano Maleiane, the governor of the Bank of Mozambique, Rogério Zandamela, among other entities.

The meetings are expected to be used to discuss a potential return of the IMF to financing the Mozambican State Budget, frozen for about four years following the disclosure of the scandal of so-called hidden debts.

The previous visit of an IMF mission to Mozambique occurred in November 2019, and since thee, the head of that mission Ricardo Velloso had expressed openness to the resumption of financial programmes with the country.

The possibility of a return to financial assistance from the IMF could pave the way to other financings from external partners. Another factor that would suggest a possibility of those partners returning is that in October Mozambique reached an agreement with creditors for the second restructuring of Eurobonds of Mozambican tuna company Ematum. (macauhub)