Press Release: IMF Statement on Mozambique

IMF News, April 23, 2016

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Press Release: IMF Statement on Mozambique

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Bibliographic details

• Published: April 23, 2016

Context and Contacts

• Press Release No. 16/184
• Date: April 23, 2016
• Issued by: IMF COMMUNICATIONS DEPARTMENT, Media Relations
• E-mail: media@imf.org
• Phone: 202-623-7100
• IMF Mission Chief for Mozambique issuing statement: Mr. Michel Lazare
• Mentioned interlocutors: Carlos Agostinho do Rosario, Prime Minister of Mozambique; Ms. Christine Lagarde, IMF Managing Director; Vice-Minister of Finance, Ms. Isaltina Lucas

Findings from Disclosure

• The authorities acknowledged that an amount in excess of $1 billion of external debt guaranteed by the government had not previously been disclosed to the Fund.
• Staff welcomed the authorities’ extensive disclosure of information which constitutes an important first step toward full restoration of trust and confidence.

Next Steps and Policy Focus

• The Fund and Mozambique will continue to work together constructively to:
  • evaluate the macroeconomic implications of this disclosure of information, and
  • identify steps to consolidate financial stability, debt sustainability and enhance governance and oversight of public enterprises.

IMF Press Release No. 16/184 — April 23, 2016

References

• Republic of Mozambique and the IMF
• Press Releases
• PRESS CENTER
• https://www.imf.org/en/home