Republic of Mozambique: Poverty Reduction Strategy Paper: Annual Progress Report: Joint Staff Advisory Note

IMF Staff Country Reports, April 6, 2009

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The Joint Staff Advisory Note presents key findings of the Poverty Reduction Strategy Paper Annual Progress Report for the Republic of Mozambique.
The government of Mozambique is committed to its medium-term fiscal strategy to make room for private sector credit by avoiding recourse to domestic financing.
The government has made large domestic debt repayments since 2002.
IMF staff welcomes the broad coverage of macroeconomic developments in 2007 and the assessment of performance against targets laid out in the government’s Economic and Social Plan for 2007.

Maintain the medium-term fiscal strategy focused on avoiding recourse to domestic financing to preserve private sector access to credit.
Continue efforts to prioritize and sustain domestic debt repayments to reduce fiscal crowding-out.
Strengthen monitoring and reporting of macroeconomic developments and performance relative to the government’s Economic and Social Plan targets to ensure transparency and accountability.

Republic of Mozambique: Poverty Reduction Strategy Paper: Annual Progress Report: Joint Staff Advisory Note