Mozambique’s Economy
Sets For Growth
The
International Monetary Fund has said Mozambique can start
unwinding temporary fiscal and monetary policy measures by next
year, in the face of an expected pick-up in economic activity.
IMF said on Tuesday, after reviewing Mozambique's performance
under a one-year $176 million IMF loan, that the economy had
shown ‘unexpected resilience’ during the global economic
downturn of the past year.
It said it expects economic growth in the southern African
country to strengthen to 5.5 percent next year from about 4.5
percent in 2009.
Overall, the country's performance under the one-year Exogenous
Shocks Facility has been on track, the IMF said.
’’Most of the key quantitative targets for end-June 2009 were
met -- though net credit to the government and reserve money
growth were higher than envisaged -- and there has been good
progress in implementing structural reforms,’’ the IMF said.
Yinka
