A technical team from the International Monetary Fund (IMF) will visit Mozambique in the second half of March to analyse a formal request for support for the State Budget presented by the country’s government, said an IMF spokesman recently.
Gerry Rice confirmed that the IMF had received a “formal request” from Maputo for an assistance programme and said that the technical team will discuss its re-launch with the Mozambican authorities after the programme was frozen in 2016 when so-called hidden debts cam to light. These hidden debts were two illegal state-backed loans taken on by two public enterprises.
The spokesman said that Mozambique’s fundamental problems are well known, including public debt and a commitment to fiscal consolidation in the medium term, whilst preserving social expenditure and investment in infrastructure.
Rice also said it was crucial to strengthen the country’s governance capacity, in order to ensure that scarce public resources are used effectively to the benefit of the citizens of the country.
The government of Mozambique, represented by the Minister of Economy and Finance, Adriano Maleiane, announced at the end of February it had submitted a formal request for State Budget support to the International Monetary Fund. (macauhub)