The International Monetary Fund (IMF) executive board has successfully completed the third review of Mozambique’s three-year loan program, leading to an immediate disbursement of approximately $60.7 million to Maputo, as confirmed by the IMF.
As of the latest update on Monday, the total disbursements within the $456 million Extended Credit Facility program, approved in 2022, have now reached around $273 million.
In a statement, the IMF expressed satisfaction with the program’s performance, highlighting a significant reduction in inflationary pressures and a notable acceleration in economic recovery.
The primary objective of the three-year arrangement is to offer crucial support to Mozambique’s economic recovery initiatives. Concurrently, it aims to implement policies that contribute to reducing public debt and addressing financing vulnerabilities.
The program also seeks to foster opportunities for public investments in vital areas such as human capital, climate adaptation, and infrastructure.