{ "title": "In Mozambique—and In Africa—Rising Requires Resilience", "publication": "IMF Blog, September 3, 2014", "sourceUrl": "https://www.imf.org/en/blogs/articles/2014/09/03/in-mozambique-and-in-africa-rising-requires-resilience", "canonical": "https://www.imf.org/en/blogs/articles/2014/09/03/in-mozambique-and-in-africa-rising-requires-resilience", "overlayPath": "/en/blogs/articles/2014/09/03/in-mozambique-and-in-africa-rising-requires-resilience/index.md", "summary": "Conference context:", "sections": [ { "heading": "Overview", "content": "- Conference context:\n - \"Africa Rising\" conference organized in May by the IMF and the government of Mozambique in Maputo.\n - Attendees: nearly 1,000 officials, corporate executives, civil society representatives, and journalists.\n - Event duration: two-day.\n- Framing:\n - Africa Rising characterized as strong growth tempered by serious challenges.\n - Emphasis on sustaining expansion and building resilience to shocks.\n- Publication:\n - IMF African Department compiled a book titled Mozambique Rising: Building a New Tomorrow, available in English, French and Portuguese." }, { "heading": "Growth and resilience: key observations", "content": "- Africa’s outlook remains strong, but individual countries have faced problems and the uncertain global outlook poses risks.\n- \"Rising\" involves both sustaining expansion and managing the dimensions of growth.\n- The extended process of African development requires increased resilience to shocks, which may be tested by economic problems in some African nations." }, { "heading": "Mozambique—achievements and immediate priorities", "content": "- Historical turnaround:\n - Emergence from civil war in 1992.\n- Immediate priorities:\n - Share the benefits of two decades of strong growth more broadly.\n - Shepherd the economy through transformation from a traditional agricultural base to one centered on mining, agro-business and processing, and services.\n- Institutional needs:\n - Continued institutional and capacity building in public administration.\n - Improve foundations and structures of economic policymaking and governance; adapt them to a fast-changing world.\n - Create an environment conducive to private sector development as the primary source of future employment.\n - Government collaboration with small and large enterprises to make Mozambique more business friendly and competitive." }, { "heading": "Natural resources and fiscal policy implications", "content": "- Resource-driven transformation:\n - Mozambique’s future tied to development of natural resources and foreign-financed megaprojects that are capital intensive and export oriented.\n - These projects have so far generated only limited employment opportunities and government revenues.\n- Fiscal policy challenges and opportunities:\n - Resource revenues, while modest to date, are likely to become sizable in a few years.\n - Opportunity to close infrastructure gaps, invest in priority sectors such as health and education, and support more inclusive growth as the economy transforms.\n - Capacity constraints seem high; the pace at which resource wealth is anticipated and used should be gradual.\n- To reap full returns on scaled-up public investment, reforms needed to:\n - Enhance the efficiency of investment through strengthened investment planning and coordination.\n - Improve project assessment, selection, and monitoring.\n - Strengthen governance.\n - Provide complementary infrastructure." }, { "heading": "Social protection and inclusive growth", "content": "- Poverty trends:\n - While poverty in Mozambique has fallen significantly, a 2009 household survey showed that overall poverty rates had stagnated since 2003 at around half the population.\n- Policy focus areas to promote inclusion:\n - Improving agricultural productivity.\n - Creating jobs through improvements in the business environment and training.\n - Developing more focused and better designed social protection programs.\n - Preserving macroeconomic stability.\n- Implementation gaps:\n - Need to refine policy priorities, derive policy actions and sequencing, and measure results.\n - Policy coordination to ensure accountability has been lacking in areas that cut across ministerial jurisdictions.\n - Significant data gaps weaken analytical capacity and the basis for policy decisions." }, { "heading": "Policy implications and recommended directions", "content": "- Prioritize institutional and capacity building in public administration to support policymaking and governance.\n- Gradually manage and deploy anticipated resource revenues to avoid capacity overstretch.\n- Reform tax regime and business environment to translate resource-led growth into broader employment and revenue gains.\n- Strengthen investment planning, project selection, monitoring, and governance to improve the efficiency and impact of public investment.\n- Design and implement focused social protection and labor-market policies to ensure more inclusive distribution of growth benefits.\n- Improve data collection and analytical capacity to support policy design, coordination, accountability, and measurement of results.\n\nSource: In Mozambique—and In Africa—Rising Requires Resilience, Doris Ross, September 3, 2014.\n\n---\n\n Content in this bundle\n\n- afr1404f\n - afr1404f (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - afr1404f (PDF){rel=\"external\" type=\"application/pdf\"}\n- Moçambique em Ascensão: Construir um novo dia; Departamento de África; junho 2014\n - Moçambique em Ascensão: Construir um novo dia; Departamento de África; junho 2014 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Moçambique em Ascensão: Construir um novo dia; Departamento de África; junho 2014 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Mozambique Rising: Building a New Tomorrow; IMF African Departmental Paper No. 14/4; June 2014\n - Mozambique Rising: Building a New Tomorrow; IMF African Departmental Paper No. 14/4; June 2014 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Mozambique Rising: Building a New Tomorrow; IMF African Departmental Paper No. 14/4; June 2014 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/blogs/articles/2014/09/03/in-mozambique-and-in-africa-rising-requires-resilience" } ], "bullets": [ "[Markdown version](/en/blogs/articles/2014/09/03/in-mozambique-and-in-africa-rising-requires-resilience/index.md)", "[Structured JSON version](/en/blogs/articles/2014/09/03/in-mozambique-and-in-africa-rising-requires-resilience/index.json)", "[Bundle manifest](/en/blogs/articles/2014/09/03/in-mozambique-and-in-africa-rising-requires-resilience/bundle-manifest.json)", "Authors: Doris Ross", "Published: September 3, 2014", "Conference context:", "Framing:", "Publication:", "Africa’s outlook remains strong, but individual countries have faced problems and the uncertain global outlook poses risks.", "\"Rising\" involves both sustaining expansion and managing the dimensions of growth.", "The extended process of African development requires increased resilience to shocks, which may be tested by economic problems in some African nations.", "Historical turnaround:", "Immediate priorities:", "Institutional needs:", "Resource-driven transformation:", "Fiscal policy challenges and opportunities:", "To reap full returns on scaled-up public investment, reforms needed to:", "Poverty trends:", "Policy focus areas to promote inclusion:", "Implementation gaps:", "Prioritize institutional and capacity building in public administration to support policymaking and governance.", "Gradually manage and deploy anticipated resource revenues to avoid capacity overstretch.", "Reform tax regime and business environment to translate resource-led growth into broader employment and revenue gains.", "Strengthen investment planning, project selection, monitoring, and governance to improve the efficiency and impact of public investment.", "Design and implement focused social protection and labor-market policies to ensure more inclusive distribution of growth benefits.", "Improve data collection and analytical capacity to support policy design, coordination, accountability, and measurement of results.", "**afr1404f**", "**Moçambique em Ascensão: Construir um novo dia; 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