The International Monetary Fund’s executive board has completed the third review of Mozambique’s three-year loan program, allowing for an immediate disbursement to Maputo of about $60.7 million, the board said.
As of the latest announcement, total disbursements under the $456 million Extended Credit Facility program, sanctioned in 2022, now stand at around $273 million.
The IMF confirmed in a statement that the program had performed satisfactorily, citing a significant fall in inflationary pressures and a significant acceleration in economic recovery.
The three-year agreement’s primary purpose is to offer critical support for Mozambique’s economic recovery efforts. It tries to develop measures that contribute to the reduction of public debt while also addressing finance vulnerabilities.
The program also aims to foster public investments in critical areas such as human capital, climate adaption, and infrastructure.
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