Republic of Mozambique: Staff Report for the 2005 Article IV Consultation, Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, and Modification of Performance Crit

Staff Report for the 2005 Article IV Consultation, Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, and Modification of Performance Criteria

Volume/Issue: Volume 2005 Issue 318
Publication date: September 2005
ISBN: 9781451931273
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Banks and Banking , Exports and Imports , Labor , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , staff appraisal , issuance of the document , issuance , prices of petroleum products , issuance of securities , PRGF loan , Total expenditures , Sub-Saharan Africa , Africa , Global

Summary

This paper highlights Mozambique’s 2005 Article IV Consultation, Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for Waiver of Performance Criteria, and Modification of Performance Criteria. The performance under the program supported by the PRGF was mixed during October 2004–March 2005. All end-December 2004 quantitative performance criteria, except the one pertaining to the fiscal deficit, were met. Prospects for 2005 remain favorable, including for strong growth, a further deceleration in inflation, and maintenance of a sustainable external position.