By Enyichukwu Enemanna
Mozambique’s finance ministry on Friday expressed hope of securing new support programme from the International Monetary Fund (IMF), following the successful end of the global lender’s mission this week, where it advised that more reforms may need to come first.
The ministry said in a statement that there could be a follow-up mission, possibly in November, to discuss programme conditions and targets.
The IMF said in an end-of-mission statement that talks on “the reforms needed to pave the way for a Fund-supported program” would continue in the coming months.
Mozambique’s dollar bond maturing in September 2031 pared earlier gains after the IMF statement and was bid at 94.29 cents, Tradeweb data showed.
The September 9 to 18 mission, led by IMF mission chief Pablo Lopez-Murphy, met Prime Minister Maria Benvinda Levi, Finance Minister Carla Loveira and Central Bank Governor Felisberto Navalha.
The resource-rich Southern African nation’s previous IMF programme ended early in April 2025, with talks for a new deal expected to hinge on economic reforms.
The Fund said economic activity “remains subdued but is showing signs of recovery”, with inflation contained and fiscal consolidation that began in 2025 continuing, anchored by spending restraint.
One of Mozambique’s most pressing challenges remains its heavy debt burden, which a World Bank and International Monetary Fund analysis has deemed unsustainable.
Its problems date back to a 2016 hidden-debt scandal, which wrecked investor confidence and curbed access to funding.
Delays to major natural gas projects that had been expected to boost exports, revenue and government finances have worsened the situation.
Earlier this year, Mozambique cleared its outstanding obligation with the IMF, a move analysts said would strengthen its case for fresh funding.
