The government announced on Friday (13) that the International Monetary Fund (IMF) remains open to a support program for Mozambique, including financing for the State Budget, denying reports that the institution had refused such an agreement, Lusa reported.
“There is no indication of any outright refusal by the IMF regarding our country’s request for financing. On the contrary, the institution is open to initiating discussions based on recommended assumptions [from the assessment] and more, which could result in an Extended Credit Facility (ECF) program, including State Budget support,” said government spokesperson Inocêncio Impissa.
Impissa spoke to journalists in Maputo during a briefing on the IMF’s recent regular assessment of the country, released in February, responding to public claims over the past weeks about a refusal of a new program with Mozambique.
In its latest assessment, the IMF did not anticipate decisions on new support, noting that Mozambique’s outstanding credit with the institution has already reached 226% of its quota.
“A post-financing review is scheduled for August 2026,” the IMF’s report under Article IV consultations stated, approved on February 13, without providing details on the possibility of a new financial support program sought by the government. The report noted that under the last Extended Credit Facility program (ECF), the IMF had approved approximately $468 million in 2022, but the program was suspended in April 2025 after disbursing about $343 million in four tranches.
The report also notes that Mozambique is scheduled to repay the IMF $98 million this year, $107.5 million in 2027, $129.3 million in 2028, and $136.4 million in 2029.
“Mozambique is one of the main beneficiaries of the IMF’s technical assistance and capacity development, with support focused on governance, public finance management, revenue mobilization, natural resource wealth management, monetary and macroprudential frameworks, and government, real sector, and financial sector statistics,” the document states.
It adds that this technical assistance and financial support “respond to government requests and align with the government’s reform priorities and IMF technical team recommendations.”
“The policy recommendations under supervision and the 2022 ECF agreement are based on critical macroeconomic recommendations from technical assistance. Despite administrative and strategic planning challenges, progress in structural reforms has been achieved,” the report notes.
President Daniel Chapo stated in June 2025 that he expected to sign a new support program with the IMF within the year, aligned with the government’s vision and public sector reforms: “Later this year [2025], if all goes well, we will sign a new program that allows, under the government’s new vision, to continue an excellent relationship with the IMF.”
These expectations were reinforced in subsequent months and again at the start of 2026.
IMF Deputy Managing Director Bo Li had also assured on May 17, 2025, in Maputo, after meeting with Chapo, that a new program would be advanced to support Mozambique’s stability: “Our team will work together. In the coming weeks and months, we will discuss a new program, and we are committed to supporting Mozambique’s economy to help maintain macroeconomic and financial stability.”
Source: Diário Económico
