The International Monetary Fund (IMF) has just approved three-year loans, allowing for an immediate disbursement to Mozambique of around 60.7 million dollars, the fund said in a statement.
The revision brings the total disbursements under the Extended Credit Facility program from 456 million dollars approved in 2022 to around 273 million dollars, the IMF said as quoted by Reuters on Monday evening.
"The program's performance has been satisfactory," the IMF said in a statement, adding that inflationary pressures have fallen dramatically and economic recovery is accelerating.
The three-year agreement is expected to support economic recovery and policies to reduce public debt and financing vulnerabilities, while creating space for public investments in human capital, climate adaptation and infrastructure.
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