The International Monetary Fund will start discussions in January on an extended credit facility with Mozambique, the fund said on Tuesday, its first potential programme with the country since suspending support in 2016.
“Staff stand ready to commence negotiations in late January 2022, in accordance with the authorities’ preferred timeline,” the IMF said in a statement after a staff visit to the country. The discovery of huge liquefied natural gas reserves meant Mozambique could become an important global exporter of the fuel, but graft scandals and the insurgency have dented or threatened the promised benefits.
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