Republic of Mozambique: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique

May 16, 2019

Preview Citation

Format: Chicago

Republic of Mozambique: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique, (USA: International Monetary Fund, 2019) accessed December 26, 2024

Also available in: português

Summary

This paper discusses Republic of Mozambique’s Request for Disbursement under the Rapid Credit Facility (RCF). Reflecting the large budgetary and external financing gaps arising from emergency assistance and reconstruction needs, the authorities are seeking financial assistance under the RCF exogenous shock window. The financial assistance is intended to address large budgetary and external financing gaps arising from reconstruction needs after Cyclone Idai, which caused significant loss of life and infrastructure damage. The authorities remain committed to macroeconomic stability, which will also be underpinned by the IMF’s financing. The authorities are reallocating lower priority spending to emergency assistance, however, their room for manoeuvre is limited and the bulk of emergency assistance and reconstruction needs will have to be covered by the international community mostly in the form of grants to ensure debt sustainability. The authorities shared staff’s main policy recommendations, namely increasing the economy’s resilience and preparedness to adverse weather events that are becoming more frequent and intense due to climate change.

Subject: Debt service, Environment, External debt, Financial institutions, Loans, Natural disasters, Public debt

Keywords: Assistance, CR, Debt service, Disaster risk management, Financing, Financing needs, Fund staff, Global, Government, IMF's financing, ISCR, Loans, Mozambican authorities, Natural disasters, Reconstruction needs

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/136
Stock No:

1MOZEA2019001
ISBN:

9781498315531
ISSN:

1934-7685

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