Republic of Mozambique: Third Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Modification of the Monetary Policy Consultation Clause, Waiver of Nonobservance of Quantitative Performance Criterion, Financing As

Third Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Modification of the Monetary Policy Consultation Clause, Waiver of Nonobservance of Quantitative Performance Criterion, Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique

Author: International Monetary Fund. African Dept.

Republic of Mozambique: Third Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Modification of the Monetary Policy Consultation Clause, Waiver of Nonobservance of Quantitative Performance Criterion, Financing Assurances Review

Volume/Issue: Volume 2024 Issue 008

Publication date: January 2024

ISBN: 9798400264757

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Topics covered in this book

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Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , International - Economics , ECF arrangement , state guarantee , financing vulnerability , Mozambican authorities , inflation pressure , financing needs , monetary policy stance , IMF team , Debt sustainability analysis , Global , Southern Africa , East Africa

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Summary

The economy continues growing steadily. Inflation pressures have declined sharply reflecting lower food and fuel prices. A fiscal correction is ongoing following the fiscal slippages from implementation challenges related to the single salary scale adopted in 2022. The security situation in the north has improved and general elections are planned for October 2024. Mozambique is facing tight domestic financing conditions combined with an external funding squeeze.