IMF urges Mozambique to reduce public debt

The International Monetary Fund (IMF) has urged Mozambique to improve its fiscal prudence mechanisms to reduce high public debt, local media reported Saturday.

The IMF resident representative in Mozambique, Alexis Meyer, reiterated the need to maintain reforms in the country in order to ensure greater budgetary prudence and contain the growth of public debt to unsustainable levels during a meeting with the budget committee of Mozambique’s parliament.

Meyer emphasized that it is important to sustain a budget without excessive spending to allow the economy to grow stably in the coming years, taking into account current macroeconomic indicators, which suggest that the country has the capacity to finance its investments.