Republic of Mozambique: Request for a New Three-Year Arrangement Under the Poverty Reduction and Growth Facility

Volume/Issue: Volume 2004 Issue 342

Publication date: November 2004

ISBN: 9781451928198

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Topics covered in this book

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Banks and Banking , Exports and Imports , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , Mozambique's Poverty Reduction and Strategy Paper , final decision of the IMF Executive Board , staff appraisal , approval of the arrangement , PRGF loan , gas pipeline , disbursement of SDR , Poverty reduction strategy , Debt relief , Africa , Southern Africa

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Summary

This paper examines Mozambique’s Request for a New Three-Year Arrangement Under the Poverty Reduction and Growth Facility. Mozambique’s performance under the authorities’ program continues to be generally satisfactory. Real GDP growth remained strong in 2003, real interest rates have declined, the external position has been further strengthened, and major inroads have been made in reducing poverty. The program for 2004 incorporates a number of structural measures aimed at removing remaining obstacles to private sector development and strengthening external competitiveness, which will be followed by additional actions in 2005–06.