- However, the country says it is negotiating a new programme to preserve long-term macroeconomic stability
By MOZTIMES
Maputo (MOZTIMES) – Mozambique has repaid in full the debt it owed to the International Monetary Fund (IMF), totalling USD 698,587,604, the Ministry of Finance announced on Wednesday in an emailed statement.
Confirmation of the full and early repayment by the southeastern African country follows a Bloomberg report that cited the payment but lacked an official source.
The debt Mozambique owed to the IMF was disbursed under the Poverty Reduction and Growth Trust (PRGT), through three programmes in 2019, 2020 and 2022, the Ministry of Finance said. “These programmes had all expired, and no additional financing was expected,” the statement explains.
Mozambique is facing unsustainable levels of domestic and external debt, and the Ministry of Finance said the early repayment to the IMF helps to “preserve the balance sheet of the Central Bank and consolidate macroeconomic stability”.
However, the Ministry added that Mozambique continues to maintain active engagement with IMF technical staff to structure a new programme. Meetings between Mozambican authorities and IMF officials are scheduled for the World Bank and IMF Spring Meetings, set for 13 to 18 April in Washington, DC. (MT)
