The International Monetary Fund (IMF) has authorized the release of approximately $60.7 million to Mozambique after completing the third review of the country’s three-year loan program, media reported on Tuesday.
This disbursement is part of the $456 million Extended Credit Facility program sanctioned in 2022, bringing the total disbursements to roughly $273 million, as stated by the IMF on Monday.
According to the IMF, Mozambique’s program performance has been satisfactory. It noted a significant decrease in inflationary pressures and highlighted an accelerating economic recovery in its statement.
The three-year arrangement aims to bolster economic revival and implement policies directed at curbing public debt and financial vulnerabilities. Additionally, it aims to create opportunities for public investments in crucial areas such as human capital, climate adaptation, and infrastructure.
