{"id":29887,"date":"2022-11-25T17:11:56","date_gmt":"2022-11-25T17:11:56","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report"},"modified":"2022-11-25T17:21:43","modified_gmt":"2022-11-25T17:21:43","slug":"government-bans-imf-financial-report","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report","title":{"rendered":"Government bans IMF financial report"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Mozambican government has banned publication of the technical report on the financial assistance from the International Monetary Fund (IMF), according to a report in Thursday\u2019s issue of the independent newssheet \u201cCarta de Mocambique\u201d.<\/p>\n

At a Maputo press conference on Wednesday, the head of the IMF mission assessing progress in implementation of the IMF programme with Mozambique, Alvaro Piris, said \u201cthe authorities have asked for alterations in the initial report, in a process which is envisaged in the IMF internal regulations. The authorities did not accept the publication and so it is the staff report that will be published, on the first evaluation of the progamme in the coming days\u201d.<\/p>\n

\u201cOur policy is clear\u201d, said Piris. \u201cThe publication of the technical reports is presumed, but voluntary. Thus, in the final analysis, the authorities can deny their consent to the publication of a report on the country. They have done so, although I admit this is not very common\u201d.<\/p>\n

Usually, this kind of technical report contains a letter signed by the authorities (e.g. the head of the government, the finance minister and the governor of the central bank), which gives details explaining the request for financial assistance. The letter is generally accompanied by an IMF report on the needs of the country and another government document, in which the authorities present the economic situation and explain what they intend to do to solve the problem that motivated the request for IMF assistance.<\/p>\n

Both documents usually run to many dozens of pages and provide a detailed explanations of the country\u2019s financial situation.<\/p>\n

\u201cThe authorities expressly did not want it published in the way it would have been\u201d, said Piris. \u201cI can say that I don\u2019t think it\u2019s an economically important matter. It\u2019s more a matter of an internal process and differences of points of view\u201d. But he declined to say what the specific problem was.<\/p>\n

\u201cI don\u2019t think it\u2019s in the interests of the international community or of the foreign investors in the country\u201d, he said, as he tried to devalue the ban on divulging documents which inform the request for financial assistance (which include the Debt Sustainability Analysis, which will only be published during the second assessment of the programme, in 2023).<\/p>\n

The IMF\u2019s public statements about the mission led by Piris have been remarkably upbeat, failing entirely to mention why the IMF programme with Mozambique had been interrupted for six years.<\/p>\n

In 2016, the IMF suspended its programme because of the scandal of Mozambique\u2019s \u201chidden debts\u201d \u2013 the illicit loans of over two billion dollars from the banks Credit Suisse and VTB of Russia to three fraudulent, security-related companies which the government of the time, under the then President, Armando Guebuza, illegally guaranteed in violation of the Mozambican Constitution and of the budget laws.<\/p>\n

That has now been quietly forgotten, and proved no impediment to an IMF financial assistance package, approved by the IMF board, under the Expanded Credit Facility (ECF).<\/p>\n

Total disbursements to Mozambique under the ECF arrangement amount to about 150 million dollars. The ECF is for three years, and is intended \u201cto support the economic recovery, reduce public debt and financing vulnerabilities, and foster higher and more inclusive growth through structural reforms\u201d.<\/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 government has banned publication of the technical report on the financial assistance from the International Monetary Fund (IMF), according to a report in Thursday\u2019s issue of the independent newssheet \u201cCarta de Mocambique\u201d. At a Maputo press conference on Wednesday, the head of the IMF mission assessing progress in implementation of […]<\/p>\n","protected":false},"author":84,"featured_media":29885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-29887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nGovernment bans IMF financial report - Mozambique<\/title>\n<meta name=\"description\" content=\"The Mozambican government has banned publication of the technical report on the financial assistance from the Internatio ...\" \/>\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\/government-bans-imf-financial-report\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government bans IMF financial report\" \/>\n<meta property=\"og:description\" content=\"The Mozambican government has banned publication of the technical report on the financial assistance from the Internatio ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report\" \/>\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=\"2022-11-25T17:11:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-25T17:21:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/11\/postQueueImg_1669383745.62.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"970\" \/>\n\t<meta property=\"og:image:height\" content=\"647\" \/>\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\/government-bans-imf-financial-report#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government bans IMF financial report\",\"datePublished\":\"2022-11-25T17:11:56+00:00\",\"dateModified\":\"2022-11-25T17:21:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report\"},\"wordCount\":558,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/11\/postQueueImg_1669383745.62.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-bans-imf-financial-report\",\"name\":\"Government bans IMF financial report - 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