Africa-Press – Mozambique. The Mozambican president, Daniel Chapo, on Monday asked for the support of the International Monetary Fund (IMF) in reforms related to public debt, revenue collection, good governance, and the fight against corruption, in order to improve the country’s macroeconomic and financial situation.
“We came to request the support of the IMF, so that they can really assist us in these reforms,” President Daniel Chapo said at the end of a meeting with the IMF Deputy Managing Director, Bo Li, in Washington, also announcing that the IMF would send a mission to Mozambique in November.
President Chapo, who is visiting the United States of America until Thursday, explained that the reforms involve issues related to internal and external public debt, improvement of revenue collection, the broadening of the tax base, as well as good governance, transparency, and the fight against corruption, with the “main objective” of improving the country’s macroeconomic and financial situation.
“Fortunately, our strategic partner, in this case the IMF, has committed to continue working with us,” stated the president.
According to Chapo, within the framework of this support, the International Monetary Fund will send a mission to Mozambique in November, “to become acquainted with the new vision and the new programme” that the country has.
“They have also committed to providing technical support for the implementation of this new programme,” which aims “to improve the country’s macroeconomic and financial situation, so that we can truly develop the country,” Chapo added.
IMF managing director Bo Li explained that the meeting with Daniel Chapo had served to discuss the challenges and opportunities for Mozambique, and how the IMF could support the country in its “reform and stabilisation” programmes.
“I want to thank President Chapo for being here, and I hope to work with him and his team,” Bo Li concluded.
The International Monetary Fund (IMF) recommended in August an “immediate fiscal consolidation” in Mozambique to ensure macroeconomic stability, and said that discussions on a new financial adjustment programme would continue “in the coming months”.
“Front-loaded fiscal consolidation is warranted to restore fiscal sustainability, reduce financing needs, and put debt on a clear downward path to reduce debt vulnerabilities, while creating fiscal space to support development and protect the most vulnerable,” the IMF press release stated at the time.
Published after the visit of the Fund team, between 21 and 29 August, to Maputo, the latest IMF end-of-mission statement on Mozambique points out that, “in the face of external and fiscal imbalances, the IMF team recommended that the authorities take decisive action to restore macroeconomic stability, improve the growth prospects of the economy, facilitate job creation, and reduce poverty”.
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