{"id":19431,"date":"2022-05-13T15:57:54","date_gmt":"2022-05-13T15:57:54","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo"},"modified":"2022-05-13T16:12:38","modified_gmt":"2022-05-13T16:12:38","slug":"mozambique-must-move-towards-austerity-luisa-diogo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo","title":{"rendered":"Mozambique must move towards austerity \u2013 Lu\u00edsa Diogo"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Former Mozambican prime minister Lu\u00edsa Diogo argues that the country must move towards stronger tightening measures, stressing this must be done with transparency to ensure the understanding of citizens.<\/p>\n

Mozambique sees the resumption, this year, of direct support to the state budget from Bretton Woods institutions the IMF and World Bank.<\/p>\n

The IMF is seen as a gauge of the level of creditworthiness of countries. Immediately after the IMF board approved the resumption of its first support to Mozambique in six years, the World Bank also announced US$300 million in direct support, on condition that the Mozambican economy be managed more rigorously.<\/p>\n

Yesterday, former prime minister and former minister of finance and economy Lu\u00edsa Diogo said that she has no doubt that, from now on, the government would introduce rigorous reforms, which could \u201cbe painful\u201d.<\/p>\n

\u201cIt is better to anticipate that there will be measures that are painful, but whose results are worth it,\u201d Diogo said, encouraging the government to continue with the reforms.<\/p>\n

What\u2019s more, the return of the IMF coincides with a difficult time for the entire world, with Russia and Ukraine at war, implying restrictions on the export of Russian oil.<\/p>\n

As a result, there is less fuel available or, at best, the price tends to increase. In Mozambique, gas stations have even threatened to stop supplying fuel if the price is not increased this month.<\/p>\n

Lu\u00edsa Diogo understands that this is a risk that the country cannot take, because \u201cit would be the worst situation we could go through as a country\u201d. \u201cOften, the government has to find ways to balance things between consumers, distributors and importers of this fundamental product for our economy,\u201d the former minister said.<\/p>\n

In other words, a rise in fuel prices is part of rigorous macro-economic management, which implies tightening, and is therefore inevitable.<\/p>\n

However, Diogo says that each of the measures must be properly explained, that is, it must be transparent when the time for austerity arrives.<\/p>\n

\u201cAnd don\u2019t get tired of explaining, because there\u2019s a lot to explain. Explaining to and in the Assembly of the Republic and to the public through the media,\u201d is her recommendation. \u201cExplaining what is being done helps us to think better, helps us to find better solutions and, when we find better solutions, we correct them here and there and that helps the country to continue moving forward.\u201d<\/p>\n

And one of the paths to be followed now is to look for financing, taking advantage of the green light given by the IMF, but it must be responsible indebtedness. The first step, according to Diogo, is to define a debt strategy, in which \u201cwe must forget about the commercial debt, because we are not in a position to pay\u201d. At the moment, for example, \u201cwe are strangled by terrible commercial debt, which cannot be forgiven\u201d.<\/p>\n

Furthermore, \u201cif we wanted to go after the commercial debt, we wouldn\u2019t need the IMF. Now, we have to borrow according to our ability to pay. We have to leverage IMF and World Bank financing, with many years to pay and low interest rates\u201d, Diogo proposed.<\/p>\n

Lu\u00edsa Diogo was speaking this Thursday (12-05) on the sidelines of the announcement of the winners of a start-up contest promoted by Total Energies, of which she is patron. The former prime minister said she was proud to participate, and believed that the project had \u201clegs to walk with\u201d, considering the rigour of the selection.<\/p>\n

By<\/b><\/p>\n

Afonso Chavo<\/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 argues that the country must move towards stronger tightening measures, stressing this must be done with transparency to ensure the understanding of citizens. Mozambique sees the resumption, this year, of direct support to the state budget from Bretton Woods institutions the IMF and World Bank. The […]<\/p>\n","protected":false},"author":84,"featured_media":19429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,16],"tags":[233,281,283],"class_list":["post-19431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMozambique must move towards austerity \u2013 Lu\u00edsa Diogo - Mozambique<\/title>\n<meta name=\"description\" content=\"Former Mozambican prime minister Lu\u00edsa Diogo argues that the country must move towards stronger tightening measures, str ...\" \/>\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\/mozambique-must-move-towards-austerity-luisa-diogo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique must move towards austerity \u2013 Lu\u00edsa Diogo\" \/>\n<meta property=\"og:description\" content=\"Former Mozambican prime minister Lu\u00edsa Diogo argues that the country must move towards stronger tightening measures, str ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo\" \/>\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=\"2022-05-13T15:57:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-13T16:12:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/05\/img-627e834358c62.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\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\/mozambique-must-move-towards-austerity-luisa-diogo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique must move towards austerity \u2013 Lu\u00edsa Diogo\",\"datePublished\":\"2022-05-13T15:57:54+00:00\",\"dateModified\":\"2022-05-13T16:12:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo\"},\"wordCount\":603,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/05\/img-627e834358c62.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-must-move-towards-austerity-luisa-diogo\",\"name\":\"Mozambique must move towards austerity \u2013 Lu\u00edsa Diogo - 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