{"id":39315,"date":"2023-05-24T11:35:01","date_gmt":"2023-05-24T11:35:01","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout"},"modified":"2023-05-24T11:47:11","modified_gmt":"2023-05-24T11:47:11","slug":"government-imf-discussing-fiscal-stability-before-new-cash-handout","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout","title":{"rendered":"Government, IMF discussing fiscal stability before new cash handout"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Mozambican government and the International Monetary Fund (IMF) are discussing fiscal sustainability measures before a new disbursement of the programme to support the country, the IMF representative said on Wednesday.<\/p>\n

\u201cNow it is necessary to assess whether what has already been done is enough,\u201d or \u201cwhat more can be done to reach a joint vision of fiscal sustainability,\u201d Alexis Meyer-Cirkel told Lusa during an event to present the regional economic outlook in Maputo.<\/p>\n

\u201cThis, at the end of the day, is the important value,\u201d in a dialogue that reviews \u201ca little of what has happened\u201d and \u201clooks a lot at what is to come,\u201d seeking \u201coverlapping ideas of how to reach that sustainability in the next 12 months and then in the years to come,\u201d he detailed.<\/p>\n

About the deadline for the conversation to end, \u201cthe forecast is that it will end soon\u201d.<\/p>\n

\u201cIt is a conversation that is ongoing. We have made a lot of progress on many points and in some there is still a need for dialogue. The hope is that it will conclude soon,\u201d he added.<\/p>\n

According to the IMF representative, it is likely \u201cthat the fiscal deviations that happened at the end of the year\u201d with the implementation of the Single Wage Scale (TSU) have created other \u201cdeviations\u201d in relation to \u201cwhat was the dynamic expected by the government\u201d at a time when it has to comply with a memorandum of targets and reforms that underpins the financial support programme of $450 million (415 million euros) until 2025, approved by the IMF a year ago.<\/p>\n

\u201cThis does not mean that the ongoing review and respective disbursement will not be carried out,\u201d he said, noting that deviations from established plans \u201chappen in most countries,\u201d and pointing to the example of \u201cshocks\u201d with the surge in inflation.<\/p>\n

\u201cThe important thing is what is done to correct the situation,\u201d work that is underway, he reiterated.<\/p>\n

In the case of Mozambique, \u201cthe moment it became clear that the cost with the TSU reform was greater than what had been planned, the government issued changes to regulations and decrees as early as January\u201d to try to bring the public sector wage bill to the level planned in the state budget.<\/p>\n

\u201cIt is now necessary to evaluate\u201d what is done and see if it is sufficient.<\/p>\n

Once the work is completed, the report is sent to the executive board of the IMF, which is then expected to \u201capprove that next tranche, which is disbursed immediately afterwards\u201d. \u201cBut we are in negotiation, in conversation for that second review,\u201d Alexis Meyer-Cirkel explained.<\/p>\n

The financial support programme for Mozambique is reviewed every six months: the targets and measures set out in the memorandum that underpins the agreement are assessed and understandings are sought to correct deviations to validate the review.<\/p>\n

When each review receives the \u201cgreen light\u201d, a new tranche is disbursed, each one around US$70 million (64 million euros), except for the first, at the start of the programme, which was around US$90 million (83 million euros).<\/p>\n

Despite having higher implementation costs, Mozambique\u2019s economy and finance minister, Max Tonela, said in March in parliament that the TSU was a necessary measure to provide sustainability to the management of public finances.<\/p>\n

The minister pointed out that the Mozambican state\u2019s spending on salaries had been above international and Southern African standards and that the reorganisation imposed by the new pay scale would reverse that trend.<\/p>\n

\u201cWe have registered a progressive increase in costs with salaries, which have been considerable. They rose from 8% of Gross Domestic Product in 2010 to 14% in 2021, which is outside the norms of good public finance management,\u201d he said.<\/p>\n

The minister noted that the weight of salaries on revenues collected by the state has resulted in fewer resources being allocated to essential sectors such as education, health and infrastructure.<\/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 and the International Monetary Fund (IMF) are discussing fiscal sustainability measures before a new disbursement of the programme to support the country, the IMF representative said on Wednesday. \u201cNow it is necessary to assess whether what has already been done is enough,\u201d or \u201cwhat more can be done to […]<\/p>\n","protected":false},"author":84,"featured_media":39314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-39315","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, IMF discussing fiscal stability before new cash handout - Mozambique<\/title>\n<meta name=\"description\" content=\"The Mozambican government and the International Monetary Fund (IMF) are discussing fiscal sustainability measures before ...\" \/>\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-imf-discussing-fiscal-stability-before-new-cash-handout\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government, IMF discussing fiscal stability before new cash handout\" \/>\n<meta property=\"og:description\" content=\"The Mozambican government and the International Monetary Fund (IMF) are discussing fiscal sustainability measures before ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout\" \/>\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=\"2023-05-24T11:35:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-24T11:47:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/05\/sm_1684912519.041843.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\/government-imf-discussing-fiscal-stability-before-new-cash-handout#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government, IMF discussing fiscal stability before new cash handout\",\"datePublished\":\"2023-05-24T11:35:01+00:00\",\"dateModified\":\"2023-05-24T11:47:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout\"},\"wordCount\":654,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/05\/sm_1684912519.041843.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-imf-discussing-fiscal-stability-before-new-cash-handout#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-imf-discussing-fiscal-stability-before-new-cash-handout\",\"name\":\"Government, IMF discussing fiscal stability before new cash handout - 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