IMF Staff Country Reports

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

July 13, 2023

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Format: Chicago

Republic of Mozambique: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Modification of The Monetary Policy Consultation Clause, Waivers of Nonobservance for Quantitative Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique, (USA: International Monetary Fund, 2023) accessed December 22, 2024

Also available in: português

Summary

The economic recovery is broad-based and strengthening. Inflation pressures remain moderate reflecting favorable domestic food production and stable fuel prices. Fiscal performance in 2022 was worse than expected, mainly due to slippage in the wage bill reform and revenue underperformance. Mozambique has been grappling with the impact of Cyclone Freddy and a persistent cholera outbreak. The security situation in the North has improved; municipal elections will be held in October 2023, and general elections in October 2024.

Subject: Debt service, External debt, Fiscal policy, Fiscal stance, International organization, Monetary policy, Public debt, Revenue administration

Keywords: Debt service, East Africa, ECF arrangement, Fiscal stance, Global, IMF team, Proactive tightening, Reference salary, Southern Africa, Three-Year arrangement, Wage bill overrun, Waivers of nonobservance

Publication Details

  • Pages:

    123

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2023/255

  • Stock No:

    1MOZEA2023023

  • ISBN:

    9798400248078

  • ISSN:

    1934-7685

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