IMF Approves 3-Year Loan to Mozambique Government
Posted on 05/10/2022
The International Monetary Fund’s executive board approved a three-year, US$ 456 million extended credit facility arrangement for Mozambique. Roughly US$ 91 million is available for immediate disbursement.
The credit facility from the IMF is Mozambique’s first program since the global lender suspended support six years ago from the so-called scandal of hidden debts in 2016. Since then, the IMF has only granted emergency aid, after Cyclone Idai in 2019 and in 2020 in the context of the coronavirus COVID-19 pandemic.