Republic of Mozambique: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility

International Monetary Fund

No 2005/168, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper examines Mozambique’s First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Mozambique’s performance in 2004 relative to the main macroeconomic objectives of the PRGF-supported program was satisfactory. The fiscal performance through September 2004 was adversely affected by a significant revenue shortfall. The program for 2005 envisages slower growth of 7.3 percent and a further decline in inflation to 8.5 percent by year-end. The program includes additional measures to improve liquidity sterilization, including through the introduction of foreign exchange auctions by end-February 2005.

Keywords: ISCR; CR; fund expert; PRGF loan; revenue data; assets of the Bank of Mozambique; PRGF-supported program; Exports; Imports; Africa (search for similar items in EconPapers)
Pages: 78
Date: 2005-05-25
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