{"id":18517,"date":"2022-04-27T14:17:14","date_gmt":"2022-04-27T14:17:14","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists"},"modified":"2022-04-27T14:25:36","modified_gmt":"2022-04-27T14:25:36","slug":"resumption-of-imf-support-a-lesser-evil-mozambican-economists","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists","title":{"rendered":"Resumption of IMF support \u201ca lesser evil\u201d \u2013 Mozambican economists"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Mozambican Association of Economists (AMECON) on Monday called the resumption of financial assistance to Mozambique from the International Monetary Fund \u201ca lesser evil\u201d, advocating \u201ccaution\u201d, since the IMF financing will increase indebtedness.<\/p>\n

The IMF announced last month that it had reached an agreement with Mozambique to implement an Extended Credit Facility (ECF) until 2025, disbursing financial aid for the first time since the so-called hidden debt scandal.<\/p>\n

\u201cThe IMF team reached a staff-level agreement with the authorities of Mozambique on a three-year program supported by an arrangement under the ECF in the amount of about SDR 341 million or $470 million\u201d, announced \u00c1lvaro Piris, leader of the IMF mission.<\/p>\n

Speaking to Lusa on Monday, Pedro Cossa, president of AMECON, described the organisation\u2019s financing as \u201ca lesser evil\u201d, noting that it will imply more indebtedness, but under more favourable conditions than those offered by other creditors.<\/p>\n

\u201cI say it\u2019s a lesser evil, but see no reason for much enthusiasm, despite having to turn to the IMF, given the facilities that the IMF offers\u201d in its financing, Cossa declared.<\/p>\n

The other advantage, he continued, is the sign of trust, as the institution\u2019s reputation encourages other partners and investors to likewise believe in Mozambique.<\/p>\n

\u201cThis sign can also bring in support,\u201d Cossa observed.<\/p>\n

The economist emphasised that the country needs to continue mobilising internal resources to finance the economy, through the expansion of the tax base, thereby reducing its vulnerability to the uncertainties of external flows.<\/p>\n

\u201cWith the closure of external sources of financing, the country turned to the domestic market, and we saw a growing domestic capital market,\u201d he stressed, while conceding that resorting to external indebtedness is \u201cinevitable\u201d in the domestic economy\u2019s current circumstances.<\/p>\n

The IMF was one of several international partners that suspended financial aid to Mozambique following the disclosure, in 2016, of borrowing by public companies that had not been reported either to the country\u2019s parliament or to international donors.<\/p>\n

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

Africa-Press – Mozambique. The Mozambican Association of Economists (AMECON) on Monday called the resumption of financial assistance to Mozambique from the International Monetary Fund \u201ca lesser evil\u201d, advocating \u201ccaution\u201d, since the IMF financing will increase indebtedness. The IMF announced last month that it had reached an agreement with Mozambique to implement an Extended Credit Facility […]<\/p>\n","protected":false},"author":84,"featured_media":18516,"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-18517","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":"\nResumption of IMF support \u201ca lesser evil\u201d \u2013 Mozambican economists - Mozambique<\/title>\n<meta name=\"description\" content=\"The Mozambican Association of Economists (AMECON) on Monday called the resumption of financial assistance to Mozambique ...\" \/>\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\/resumption-of-imf-support-a-lesser-evil-mozambican-economists\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resumption of IMF support \u201ca lesser evil\u201d \u2013 Mozambican economists\" \/>\n<meta property=\"og:description\" content=\"The Mozambican Association of Economists (AMECON) on Monday called the resumption of financial assistance to Mozambique ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists\" \/>\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=\"2022-04-27T14:17:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-27T14:25:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/04\/img-6269523b78180.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\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=\"2 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\/resumption-of-imf-support-a-lesser-evil-mozambican-economists#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Resumption of IMF support \u201ca lesser evil\u201d \u2013 Mozambican economists\",\"datePublished\":\"2022-04-27T14:17:14+00:00\",\"dateModified\":\"2022-04-27T14:25:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists\"},\"wordCount\":344,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/04\/img-6269523b78180.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\/resumption-of-imf-support-a-lesser-evil-mozambican-economists#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/resumption-of-imf-support-a-lesser-evil-mozambican-economists\",\"name\":\"Resumption of IMF support \u201ca lesser evil\u201d \u2013 Mozambican economists - 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