Mozambique: Thumbs Down From IMF

The IMF mission which left Mozambique yesterday rejected what it had been offered by the government. The Kroll report on secret debt with its lack of "critical information" is again rejected. And the IMF made harsh demands for tax rises, spending cuts, no new investment and action on state companies. The IMF statement pointedly said "this mission will not result in a Board discussion," which means no new IMF programme this year and no resumption of aid which has been cut off.

The 10-19 July mission was headed, as have recent missions, by Michel Lazare, who repeated and strengthened his past demands. He explicitly cited the 24 June press statement on the Kroll report, saying that "critical information gaps remain unaddressed regarding the use of loans proceeds." The government must "take steps to fill the information gaps and to enhance its action plan to strengthen transparency, improve governance, and ensure accountability."

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