Mozambique reaches agreement of US$286 million with International Monetary Fund.
Mozambique desperately needs a loan from IMF .
A statement from the International Monetary Fund - IMF - indicates that the Mozambican authorities and a team that organization reached an agreement at the technical level of 286 million US dollars.
The agreement is made in the light of an economic environment of 18 months and is still subject to approval from the general direction and the IMF Board of Directors.
The meeting of the Board of Directors is scheduled for mid- December 2015. The decision was taken within the framework of regular meetings, in which the IMF evaluates the stage of the Mozambican economy. Michel Lazare, head of the mission said that "economic activity in 2015 was maintained solid, however, new challenges have emerged that require decisive policy measures.
From the point of view of the mission, the growth will reach 6.3 per cent in 2015 and is expected to accelerate slightly to 6.5 percent in 2016.
A statement from the International Monetary Fund - IMF - indicates that the Mozambican authorities and a team that organization reached an agreement at the technical level of 286 million US dollars.
The agreement is made in the light of an economic environment of 18 months and is still subject to approval from the general direction and the IMF Board of Directors.
The meeting of the Board of Directors is scheduled for mid- December 2015. The decision was taken within the framework of regular meetings, in which the IMF evaluates the stage of the Mozambican economy. Michel Lazare, head of the mission said that "economic activity in 2015 was maintained solid, however, new challenges have emerged that require decisive policy measures.
From the point of view of the mission, the growth will reach 6.3 per cent in 2015 and is expected to accelerate slightly to 6.5 percent in 2016.
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