IMF discusses Mozambique request for fund-backed programme
The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, U.S., April 21, 2017. REUTERS/Yuri Gripas
Audio By Vocalize
Mozambique is facing a "challenging economic situation," Pablo Lopez Murphy, who led the IMF team that visited Maputo from June 8 to 12, said in a statement.
"Economic activity is gradually recovering from a contraction in 2025, but growth remains subdued," he said.
The IMF staff team told Reuters that its objective was to review recent economic developments, discuss the authorities' plans to restore fiscal and debt sustainability, and explore how the Fund can best support Mozambique going forward.
The IMF reclassified the Southern African country's debt as unsustainable in February, citing a deterioration in public finances.
The country's debt problems date back to a 2016 hidden-debt scandal, which wrecked investor confidence and curbed access to funding.
Join the Discussion
Share your perspective with the Citizen Digital community.
No comments yet
This discussion is waiting for your voice. Be the first to share your thoughts!