Mozambique

The Deputy Managing Director of the International Monetary Fund (IMF), David Lipton, on Monday ended an official visit to Mozambique during which he praised the country's economic and social progress made over the last twenty years.During the visit he met with Prime Minister Alberto Vaquina, Finance Minister Manuel Chang, and the governor of the Bank of Mozambique, Ernesto Gove. He also met with representatives of the private sector, development partners, and civil society.According to Lipton, “during our discussions, I commended the authorities’ sustained commitment to prudent economic policies. I also welcomed their intention to maintain public investment at high levels and reduce the cost the private sector faces in doing business. Their intentions to foster the social and human development objectives are also commendable in light of the big challenges faced”.He added, “I welcomed the efforts underway to prepare for the significant regulatory and macroeconomic challenges of managing natural resources, especially coal and gas”.He said that making growth more inclusive remains one of the key priorities over the medium to longer term. He argued that the government is right in emphasising public investment in infrastructure, strengthening human capital through health, education and job training, and facilitating private economic activities.He was also in agreement with the government’s desire to expand basic social protection for the poorest members of the population.On the issue of Mozambique’s immense natural resources, Lipton stated that “the IMF is supporting Mozambique in its quest to build a transparent and well-managed natural resource revenue management system”.