Maputo, March 13, 2026 (Lusa) - The Mozambican government stated on Friday that the International Monetary Fund (IMF) remains open to a programme to support the country with funding, including for the state budget, denying reports that the institution had refused such an agreement.
"There is no indication of any explicit refusal by the IMF of any request for funding from our country. On the contrary, the institution is indeed open to initiating discussions with the country based on the recommendations [in the assessment] and beyond, which could lead to an Extended Credit Facility programme that includes financing for the state budget,” said Government spokesperson Inocêncio Impissa.
The spokesperson was speaking to journalists in Maputo at a briefing where he addressed the IMF’s recent regular assessment of the country, released in February, thereby responding to public allegations in recent weeks regarding the Fund’s refusal of a new programme with Mozambique.
Lusa reported in February that the IMF had not brought forward any decisions on new support for Mozambique, noting that outstanding credit with the institution had already reached 226% of the quota in the most recent assessment of the country.
“A post-financing review is scheduled for August 2026,” state the IMF’s recommendations following the regular consultations under Article IV, approved on 13 February, though they provide no information on the possibility of a new programme with financial support, as desired by Mozambique.
The document notes that under the last ECF (Extended Credit Facility) programme, the IMF had approved funding of around US$468 million (€398.5 million) for Mozambique in 2022. However, that programme was suspended in April 2025, by which time approximately US$343 million (€292 million) had been disbursed in four tranches.
The report also states that Mozambique is expected to pay the IMF US$98 million (€83.4 million) this year, US$107.5 million (€91.5 million) in 2027, US$129.3 million (€110 million) in 2028 and US$136.4 million (€116.1 million) in 2029.
“Mozambique is one of the main beneficiaries of the IMF’s technical assistance and capacity building, with support focused on governance, public finance management, revenue mobilisation, management of natural resource wealth, monetary and macroprudential frameworks, and government, real sector and financial sector statistics,” the report states.
It adds that this technical assistance and financial allocations “respond to requests from the authorities and are aligned with the reform priorities” of the Government and the recommendations of the IMF’s technical team.
“The policy recommendations under supervision and the 2022 ECF agreement are based on critical macroeconomic recommendations from the technical assistance. “Despite administrative and strategic planning challenges, progress has been made on structural reforms,” it notes.
Mozambican president Daniel Chapo said last June that he expected to sign a new support programme with the IMF as early as 2025, aligned with the current government’s vision and public sector reforms: "Later this year [2025], if all goes well, we will sign a new programme that will enable us, with the government’s new vision, to truly continue an excellent relationship with the IMF".
These expectations were reinforced in the following months and again in early 2026.
The IMF’s Deputy Managing Director, Bo Li, had also already given assurances on 17 May 2025 in Maputo, after being received by Chapo, that he would put forward a new programme to support Mozambique’s stability: “Our team will work together. In the coming weeks and months we will discuss a new programme and we are committed to supporting the Mozambican economy to help maintain macroeconomic and financial stability.”
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