Mozambique

Republic of Mozambique: 2024 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Modifications of Quantitative Performance Criteria, Waiver of Nonobservance of Quantitative Performance C

WASHINGTON, 12 July 2024 / PRN Africa / -- Summary:Economic growth is tepid, with tight financial conditions continuing to act as a drag on activity. Inflation pressures have declined sharply reflecting lower international fuel and food prices and subdued domestic demand. About 60 percent of the population is below the poverty line. A fiscal correction is ongoing, albeit at a slower pace than planned, following the fiscal slippages from the single salary scale reform adopted in 2022. The security situation in the north remains fragile and general elections are scheduled for October 9, 2024.

SOURCE International Monetary Fund (IMF)