MOZAMBIQUE: IMF emergency aid promises slight relief amid troubled outlook
On Friday, 24 April, the board of the International Monetary Fund (IMF) approved a disbursement of USD 309mn under the Rapid Credit Facility (RCF) to support Mozambique’s “urgent balance of payment and fiscal needs stemming from the COVID-19 pandemic.” Together with the G20 debt … Become a member to read the rest of this article […]
MOZAMBIQUE: IMF funding expedited, LNG delays worsening
● Financial support from the International Monetary Fund (IMF) is being expedited, albeit under emergency facilities rather than a full program. ● However, the LNG outlook is turning from bad to disastrous amid speculation that ExxonMobil could postpone bringing its Rovuma LNG p… Become a member to read the rest of this article
MOZAMBIQUE: More than one emergency
In a late-night session on 31 March, the National Assembly approved President Filipe Nyusi’s state of emergency declaration, which applies from 1 to 30 April, in response to the Covid-19 pandemic. However, Mozambique now faces multiple emergencies: not only the pandemic itself bu… Become a member to read the rest of this article
MOZAMBIQUE: IMF mission delayed
The International Monetary Fund (IMF) has postponed its planned negotiating mission to Maputo on account of the COVID-19 pandemic. While this injects uncertainty into the question of timing, both the IMF and government seem intent on concluding a new financing deal eventually. … Become a member to read the rest of this article
MOZAMBIQUE: Return of IMF financing on the horizon
● The International Monetary Fund (IMF) has confirmed that it has received a formal request from Mozambique for a new Policy Support Instrument (PSI) and Stand-by Credit Facility (SCF). ● A return of IMF funding, which was suspended in 2016, would be a major step towards resto… Become a member to read the rest […]
MOZAMBIQUE: What to expect from Nyusi’s second term
● Familiar cabinet line-up suggests President Filipe Nyusi’s second term will look much like the first. However, the backdrop differs for these reasons: ● While Nyusi’s first term was characterized by a corruption-induced financial crisis, the economy and the mega-LNG projects… Become a member to read the rest of this article