The International Monetary Fund (IMF) considers that Mozambique's public debt could reach over 100% this year and next, despite the acceleration of economic growth to 5% and 8.2% in 2023 and 2024.

According to the report on sub-Saharan Africa, released yesterday as part of the IMF and World Bank Annual Meetings in Washington, the IMF presented several tables with forecasts for the main economic indicators, in which it estimates that the ratio of Mozambican public debt to Gross Domestic Product (GDP) will rise from 76.1% in 2022 to 102.8% this year and 103.1% next year.

"With the exception of Cape Verde and Eritrea, Mozambique is the country with the highest ratio of public debt to GDP in the entire sub-Saharan region, with almost double the average for the region, at 55.5%," reads the IMF report, quoted by Lusa.

The organization argues that sub-Saharan African countries must improve financial management, contain inflation, allow for exchange rate adjustments and ensure that climate change does not take money away from basic spending.