“IMF Approves $60.7 Million Disbursement to Mozambique”

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"IMF Approves $60.7 Million Disbursement to Mozambique"

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The International Monetary Fund’s executive board has completed the third review of Mozambique’s three-year loan program, enabling an immediate disbursement of approximately $60.7 million to Maputo, the fund announced.

With this review, the total disbursements under the $456 million Extended Credit Facility program approved in 2022 amount to about $273 million, as stated by the IMF late on Monday.

The IMF noted that the program’s performance has been satisfactory, highlighting a significant decline in inflationary pressures and an accelerating economic recovery.

The three-year arrangement aims to support economic recovery, implement policies to reduce public debt and financing vulnerabilities, and create opportunities for public investments in human capital, climate adaptation, and infrastructure.