IMF Completes Third Review Under the Policy Support Instrument (PSI) for MozambiquePress Release No. 09/08
January 16, 2009
The Executive Board of the International Monetary Fund (IMF) has completed the third review of Mozambique's economic performance under a three-year Policy Support Instrument (PSI). Mozambique's economic program with the IMF remains on track and all the quantitative and structural assessment criteria to end-June 2008 were met. The Board's decision was taken on a lapse of time basis.1
The PSI for Mozambique was approved on June 18, 2007 (See Press Release No 07/135) to support the nation's economic reform efforts. It is aimed at consolidating macroeconomic stability and at achieving sustained economic growth and poverty reduction through the pursuit of prudent macroeconomic policies as well as promoting structural reforms. The strategy to achieve this goal remains set in the Mozambican authorities' national poverty reduction strategy, Plano de Acção para Redução da Pobreza Absoluta (PARPA II).
1 The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.