Another Step Forward

BMI View: Mozambique and the IMF have signed off the Fund programme begun in 2004 and have agreed that there is no immediate need for further borrowing, but intend to maintain a close relationship on policy issues. The move is something of a landmark, and reflects the now established track record of macroeconomic progress. But the country remains heavily dependent on donor largesse, and many years of structural reforms are needed to make the country financially viable in its own right.

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