IMF Staff Team Concludes a Technical Virtual Mission to Mozambique
IMF News, April 5, 2021
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Bibliographic details
- Published: April 5, 2021
Mission summary and context
- Date concluded: March 29, 2021.
- Mission format: virtual staff visit.
- Main discussion topics:
- Macroeconomic prospects and policies to manage the economic effects of the COVID pandemic.
- The authorities’ reform agenda for the next years.
- Assessment:
- Staff and the authorities share a broadly similar assessment of economic prospects for 2021 and the medium-term.
- Staff acknowledged the authorities’ adroit economic management in the face of a series of shocks in the past years.
- Engagement:
- The IMF remains closely engaged with the authorities in developing policy reforms in fiscal, monetary and financial, and governance areas.
- Strong collaboration through technical assistance.
Key statistics and selected economic indicators (as presented)
- National income and prices
- Nominal GDP (MT billion): 896 (2018), 957 (2019), 980 (2020), 1052 (2021)
- Real GDP growth: 3.4 (2018), 2.3 (2019), -1.3 (2020), 1.6 (2021)
- Consumer price index (end of period): 3.5 (2018), 7.8 (2019)
- Government operations (Percent of GDP)
- Total revenue: 23.8 (2018), 28.9 (2019), 24.1 (2020), 24.2 (2021)
- Total expenditure and net lending: 31.3 (2018), 30.0 (2019), 30.9 (2020), 33.3 (2021)
- Overall balance, after grants: -8.2 (2018), -1.2 (2019), -4.1 (2020), -6.3 (2021)
- Primary Balance after grants: -3.8 (2018), 2.0 (2019), -1.0 (2020), -3.2 (2021)
- Money and credit (annual percentage change)
- Reserve money: 22.5 (2018), 19.1 (2019), 9.0 (2020), 11.1 (2021)
- M3 (Broad Money): 8.2 (2018), 12.1 (2019), 23.6 (2020), 24.6 (2021)
- Credit to the economy: -2.5 (2018), 5.0 (2019), 14.8 (2020), 8.4 (2021)
- External sector (annual percentage change)
- Merchandise exports: 24.6 (2018), 27.1 (2019), 27.3 (2020), 6.5 (2021)
- Merchandise exports, excluding megaprojects: 20.2 (2018), -24.7 (2019), -11.3 (2020)
- Merchandise imports: 10.0 (2018), -9.2 (2019), -23.9 (2020), 32.9 (2021)
- Merchandise imports, excluding megaprojects: 18.1 (2018), 9.5 (2019), -12.9 (2020), 3.1 (2021)
- External public finances and reserves (Millions of U.S. dollars)
- External Public Debt: 13,335 (2018), 13,485 (2019), 15,199 (2020), 14,769 (2021)
- External current account, after grants: -4,501 (2018), -3,022 (2019), -3,813 (2020), -10,393 (2021)
- Net international reserves (end of period): 2,885 (2018), 3,605 (2019), 3,791 (2020), 3,430 (2021)
- Gross international reserves (end of period): 3,081 (2018), 3,884 (2019), 4,070 (2020), 3,631 (2021)
Policy focus and implications
- Fiscal policy:
- Emphasis on reform agenda in fiscal areas to manage pandemic-related fiscal pressures and medium-term sustainability.
- Monetary and financial policy:
- Continued collaboration on monetary and financial reforms to support stability and economic recovery.
- Governance:
- Ongoing IMF engagement on governance reforms, supported by technical assistance.
- Technical assistance:
- Strong collaboration through technical assistance is highlighted as a central element of IMF support.
IMF Communications Department, April 5, 2021