{"id":17065,"date":"2022-03-31T15:22:05","date_gmt":"2022-03-31T15:22:05","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm"},"modified":"2022-03-31T15:27:31","modified_gmt":"2022-03-31T15:27:31","slug":"re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm","title":{"rendered":"Re-start of IMF funding will have \u2018exponential, multiplying impact\u2019 \u2013 ex-PM"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Former Mozambican prime minister Lu\u00edsa Diogo told Lusa on Wednesday that the resumption of direct financial assistance from the International Monetary Fund (IMF) would have an \u201cexponential and multiplier impact\u201d, because it \u201clights a beacon\u201d for other cooperation partners.<\/p>\n

The IMF\u2019s announcement this week that it will again grant loans to Mozambique \u201chas an exponential and multiplier impact\u201d, declared Lu\u00edsa Diogo, who served as prime minister of Mozambique between 2004 and 2010, after having been minister of planning and finance from 1999 to 2005.<\/p>\n

Lu\u00edsa Diogo said that the IMF\u2019s reputation will make countries, investors and international markets look on Mozambique as again trustworthy, after its credibility was shaken by the \u2018hidden debts\u2019 scandal.<\/p>\n

\u201cThis signal is essential for Mozambique to reaffirm trust and gives the country the possibility to resurface at an international level, for it to be able to talk on equal terms in the financial markets,\u201d the former minister emphasised.<\/p>\n

Regarding the conditions imposed by the IMF for the release of financial assistance to the country, namely good governance, transparency and rigour in public accounts, the former prime minister considered them \u201cnormal\u201d in relations with the institution, and that the objective was to \u201cshield the deal\u201d.<\/p>\n

\u201cThese conditionalities always appear in the programs that the IMF makes with countries, and Mozambique will certainly have negotiated the best possible programs, ones that are feasible and acceptable from the point of view of implementation,\u201d she emphasised.<\/p>\n

The agreement with the IMF, Diogo continued, will also benefit the private sector, as the country\u2019s business people now have a trump card in mobilising resources for the capitalization of their productive activities.<\/p>\n

Lu\u00edsa Diogo noted that the Mozambican authorities have adopted coherent and consistent macroeconomic management strategies in line with the path the country had been following before the \u2018hidden debts\u2019, but that it will have to undertake structural reforms aimed at more sustained economic growth.<\/p>\n

An increase in revenue, through efficient tax reform and based on the expansion of the tax base, and the stimulus to production, were among the actions to be taken into account, she added.<\/p>\n

The former prime minister believes that the return of financial assistance is a sign that the IMF and international partners have already understood that the case of hidden debts was a \u201cstumble, a mishap\u201d in the rigorous way the Mozambican state has managed public debt.<\/p>\n

On Monday, the IMF announced that it had reached an agreement with Mozambique to implement an Expanded Financing Program until 2025, disbursing financial aid for the first time since the hidden debt scandal.<\/p>\n

\u201cThe IMF team reached a technical agreement with the Mozambican authorities for a three-year program supported by a PFA in the amount of US$470 million [\u20ac428 million],\u201d leader of the Fund\u2019s team in Mozambique, Alvaro Piris, said.<\/p>\n

\u201cThe government economic program supported by the PFA aims to enhance sustainability, inclusive growth and long-term macroeconomic stability,\u201d Piris added, noting that the program is still subject to approval by the Fund\u2019s board of directors, which usually takes place a few weeks after the announcement of the technical agreement.<\/p>\n

This is the first time that the Fund has financed Mozambique since the disclosure of the so-called \u2018hidden debts\u2019 scandal in 2016, with only occasional financial aid recorded following specific disasters such as cyclones Kenneth and Idai in 2019 and the Covid-19 pandemic.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Former Mozambican prime minister Lu\u00edsa Diogo told Lusa on Wednesday that the resumption of direct financial assistance from the International Monetary Fund (IMF) would have an \u201cexponential and multiplier impact\u201d, because it \u201clights a beacon\u201d for other cooperation partners. The IMF\u2019s announcement this week that it will again grant loans to Mozambique […]<\/p>\n","protected":false},"author":84,"featured_media":17064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-17065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nRe-start of IMF funding will have \u2018exponential, multiplying impact\u2019 \u2013 ex-PM - Mozambique<\/title>\n<meta name=\"description\" content=\"Former Mozambican prime minister Lu\u00edsa Diogo told Lusa on Wednesday that the resumption of direct financial assistance f ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Re-start of IMF funding will have \u2018exponential, multiplying impact\u2019 \u2013 ex-PM\" \/>\n<meta property=\"og:description\" content=\"Former Mozambican prime minister Lu\u00edsa Diogo told Lusa on Wednesday that the resumption of direct financial assistance f ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-31T15:22:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-31T15:27:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/03\/img-6245c84b809b6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Re-start of IMF funding will have \u2018exponential, multiplying impact\u2019 \u2013 ex-PM\",\"datePublished\":\"2022-03-31T15:22:05+00:00\",\"dateModified\":\"2022-03-31T15:27:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm\"},\"wordCount\":577,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/03\/img-6245c84b809b6.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/re-start-of-imf-funding-will-have-exponential-multiplying-impact-ex-pm\",\"name\":\"Re-start of IMF funding will have \u2018exponential, multiplying impact\u2019 \u2013 ex-PM - 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