Press Release No. 21/101

IMF Staff Team Concludes a Technical Virtual Mission to Mozambique

April 5, 2021

    Washington, DC: An IMF mission team held a virtual staff visit with the Mozambican authorities, concluding on March 29, 2021.

    Discussions centered on macroeconomic prospects and policies to manage the difficult economic circumstances created by the COVID pandemic, and the authorities’ reform agenda for the next years. Staff and the authorities share a broadly similar assessment of economic prospects for 2021 and the medium-term, with staff acknowledging the authorities’ adroit economic management in the face of a series of shocks in the past years.

    The IMF remains closely engaged with the authorities in developing policy reforms in fiscal, monetary and financial, and governance areas, including strong collaboration through technical assistance.

    Mozambique: Selected Economic Indicators

    2018

    2019

    2020

    2021

    (Annual percentage change,
    unless otherwise indicated)

    National income and prices

    Nominal GDP (MT billion)

    896

    957

    980

    1052

    Real GDP growth

    3.4

    2.3

    -1.3

    1.6

    Consumer price index (end of period)

    3.5

    3.5

    3.5

    7.8

    (Percent of GDP)

    Government Operations

    Total revenue

    23.8

    28.9

    24.1

    24.2

    Total expenditure and net lending

    31.3

    30.0

    30.9

    33.3

    Overall balance, after grants

    -8.2

    -1.2

    -4.1

    -6.3

    Primary Balance after grants

    -3.8

    2.0

    -1.0

    -3.2

    (Annual percentage change,
    unless otherwise indicated)

    Money and Credit

    Reserve money

    22.5

    19.1

    9.0

    11.1

    M3 (Broad Money)

    8.2

    12.1

    23.6

    12.1

    Credit to the economy

    -2.5

    5.0

    14.8

    8.4

    (Percent of GDP)

    24.6

    24.1

    27.1

    27.3

    External sector

    Merchandise exports

    10.0

    -9.2

    -23.9

    6.5

    Merchandise exports, excluding megaprojects

    20.2

    12.1

    -24.7

    -11.3

    Merchandise imports

    18.1

    9.5

    -12.9

    32.9

    Merchandise imports, excluding megaprojects

    8.9

    9.3

    -4.5

    3.1

    (Millions of U.S. dollars)

    External Public Debt

    13,335

    13,485

    15,199

    14,769

    External current account, after grants

    -4,501

    -3,022

    -3,813

    -10,393

    Net international reserves (end of period)

    2,885

    3,605

    3,791

    3,430

    Gross international reserves (end of period)

    3,081

    3,884

    4,070

    3,631

    Sources: Mozambican authorities; and IMF staff estimates and projections.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Lucie Mboto Fouda

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson