The executive board of the International Monetary Fund (IMF) has 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 reported by the IMF.
Following the latest announcement 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 confirmed the program’s satisfactory performance, highlighting a significant decrease in inflationary pressures and a notable acceleration in economic recovery.
The primary objective of the three-year arrangement is to offer crucial support for Mozambique’s economic recovery initiatives. Simultaneously, it strives to implement policies that aid in reducing public debt and addressing financing vulnerabilities.
Additionally, the program aims to create opportunities for public investments in vital areas, including human capital, climate adaptation, and infrastructure.