Mozambique to receive $60.7mln IMF loan tranche

Mozambique is set to receive the third tranche of a $456 million IMF Extended Credit Facility programme approved in 2022, Reuters reported on Tuesday.

The International Monetary Fund (IMF) completed the 3rd review of Mozambique’s three-year loan programme, and allowed for the disbursement of the amount of $60.7 million, thus raising the total amount received by the country to $273 million, the IMF said late on Monday.

“Programme performance has been satisfactory,” The IMF’s statement explained.

The statement also said that the inflationary pressures are falling and the economic recovery is accelerating.

The IMF’s three-year arrangement for Mozambique helps support economic recovery to reduce public debt and financing vulnerabilities.

It also helps create space for public investments in human capital, climate adaptation, and infrastructure.