The representative of the International Monetary Fund in Mozambique, Alexis Meyer, expressed confidence in the resumption of investments in Cabo Delgado and said that the IMF “has always been in Mozambique” and would continue.
The Mozambican government and the International Monetary Fund are discussing fiscal sustainability measures, before a new disbursement of the support programme for the country, Alexis Meyer said Wednesday during an event to present the regional economic outlook, in Maputo.
The IMF representative was optimistic about the resumption of gas projects in Cabo Delgado province, which has been the target of terrorist attacks since late 2017. “From an economic perspective, we believe that there will be a resumption of these investments. That is our basic projection,” he said.
The IMF representative in Mozambique was also pleased with the growing return of the population to areas once occupied by terrorists.
Alexis Meyer said that the IMF “has always been in Mozambique” and would continue. “The IMF has always been in Mozambique during all these years, since Mozambique became a member of the IMF in the 1980s, in different forms, mainly technical assistance, plus direct budget support as well. We had two quick credit facilities in the context of the cyclones, then in the context of the pandemic and now this extended credit facility,” he said.
A year ago, the IMF approved a financial support programme for Mozambique of US$450 million (415 million euros) until 2025. The support programme is reviewed every six months: the targets and measures set out in the memorandum that underpins the agreement are assessed and understandings are sought to correct deviations to validate the review. When each review receives the “green light”, a new tranche is disbursed, each one around 70 million dollars, except for the first, at the start of the programme, which was around 90 million dollars.
