Press Release No. 20/44

Statement by IMF Deputy Managing Director Tao Zhang at the Conclusion of His Visit to Mozambique

February 11, 2020

Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), visited Mozambique during February 8­-11. At the conclusion of his visit, Mr. Zhang made the following statement:

“It was a great privilege to visit Mozambique for the first time and learn firsthand of the opportunities and challenges facing the country. It was a particular honor to meet President Nyusi and hear his vision for the country.

“I am happy that Mozambique’s economy is recovering from the effects of Tropical Cyclones Idai and Kenneth last year. For growth to accelerate further and become more inclusive, it is important that economic policies remain prudent and reforms continue. These would include actions to strengthen governance and transparency, address climate vulnerabilities, and achieve the Sustainable Development Goals.

“The LNG sector under development in northern Mozambique has sizable potential and, given the appropriate policies and safeguards, could lift millions of people out of poverty. It will also help reduce green-house gases, although zero-emission fuels will ultimately be needed in the fight against climate change.

“The IMF stands ready to further strengthen its collaboration with the Mozambican authorities and help advance their reform agenda.”

During his visit, Mr. Zhang also met with Ministers Maleiane, Tonela, and Mondlane, Bank of Mozambique Governor Zandamela, other senior officials, and representatives from the private sector, civil society, and the international community.

In addition, Mr. Zhang had the opportunity to tour a drought recovery and resilience project in rural Matutuíne, financed by the African Development Bank, and to visit a shelter for the vulnerable elderly in Maputo.