Mozambique economy recovering from 2019 tropical Cyclones – IMF

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Tao Zhang
Tao Zhang

THE International Monetary Fund, IMF, has applauded economic policies of Mozambique. Tao Zhang, deputy managing director, IMF, said the country’s economy has recovered from the effects of Tropical Cyclones Idai and Kenneth last year.

Zhang, in a statement after visiting Mozambique, noted that for growth to accelerate further and become more inclusive, it is important that economic policies remain prudent and reforms continue. According to him, these would include actions to strengthen governance and transparency, address climate vulnerabilities, and achieve the Sustainable Development Goals.

“The LNG sector under development in northern Mozambique has sizable potential and, given the appropriate policies and safeguards, could lift millions of people out of poverty. It will also help reduce green-house gases, although zero-emission fuels will ultimately be needed in the fight against climate change. The IMF stands ready to further strengthen its collaboration with the Mozambican authorities and help advance their reform agenda,” he said.

During his visit, Zhang met with ministers Maleiane, Tonela, and Mondlane, Bank of Mozambique Governor Zandamela, other senior officials, and representatives from the private sector, civil society, and the international community. In addition, Zhang had the opportunity to tour a drought recovery and resilience project in rural Matutuíne, financed by the African Development Bank, and a shelter for the vulnerable elderly in Maputo.

– Feb. 11, 2020 @ 17:45 GMT |

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