INTERNATIONAL – Mozambique’s talks with the International Monetary Fund (IMF) are making “encouraging progress,” as the country seeks to restore access to international financing, President Filipe Nyusi said on Wednesday.
Mozambique has been battling to recover from a debt crisis after admitting in 2016 to $1.4 billion of previously undisclosed lending, prompting the IMF to cut off support and triggering a currency collapse and debt default.
Speaking to Reuters on the sidelines of the Russian-Mozambican Business Forum in Moscow on Wednesday, Nyusi said Mozambique was in touch with the IMF on restoring suspended support to the southern African state.
“We want to establish a good relationship with our partners from financial institutions so that we can continue to access financial resources, and we are doing this with our partner the IMF, and they understand us. There is a hope that better days will come,” Nyusi said.
“We are discussing programmes, of course. Every three months they visit us in Mozambique, we are in contact. There is quite encouraging progress on this.”