Maputo — Mozambique's Net International Reserves (NIR) rose to 3.5 billion dollars last May, indicating a reversal of previous declines following the government's decision to fully repay the outstanding debt of 515.04 million Special Drawing Rights (equivalent to 630.1 million US dollars) to the International Monetary Fund (IMF) by the end of March.

Mozambique was scheduled to repay the IMF 98 million dollars in 2026, 107.5 million in 2027, 129.3 million in 2028, and 136.4 million dollars in 2029. This schedule was thrown away, since Mozambique opted to pay the debt in advance.

According to a statistical report of the Bank of Mozambique, cited by the Portuguese News Agency, LUSA, these reserves - foreign currency necessary for the import of goods and services - had been growing every month since September, until reaching a historic high of 4,258 million dollars in February.

"However, they fell 18 percent in March to 3,486 million dollars, and fell again in April, by almost one percent to 3,470 million dollars. The trend was reversed in May, with an expansion of reserves equivalent to one percent in a single month", reads the report.

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According to Pablo Murphy, head of the IMF mission, who recently visited the country, the national economy could begin a gradual recovery trajectory next year, although risk factors persist, "including the evolution of commodity prices in international markets."

The IMF forecasts Mozambique's economic growth of 0.5 percent this year, representing a moderate recovery after the slowdown observed in recent years, influenced by internal challenges and uncertainties in international markets.