The International Monetary Fund (IMF) executive board has successfully concluded the third review of Mozambique’s three-year loan program, paving the way for an immediate disbursement of approximately $60.7 million to Maputo, as announced by the fund.
This latest review marks a significant step, bringing the total disbursements under the $456 million Extended Credit Facility program approved in 2022 to around $273 million.
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The IMF, in a statement released on Monday, stated that Mozambique’s program performance has been deemed satisfactory. The statement highlighted a notable reduction in inflationary pressures and an accelerating economic recovery.
The three-year arrangement is strategically designed to bolster economic recovery, implement policies addressing public debt concerns, and tackle financing vulnerabilities. Additionally, the program aims to create room for public investments in vital areas such as human capital, climate adaptation, and infrastructure.
This financial support from the IMF is anticipated to contribute to Mozambique’s economic resilience and its ability to navigate challenges while fostering sustainable development.
