IMF staff agree three-year, $470m programme for Mozambique; Vale workers have paid more tax than Vale

Welcome to Zitamar’s daily Mozambique briefing for 29 March 2022

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IMF staff agree three-year, $470m programme for Mozambique
The IMF has agreed a three-year programme with Mozambique, lending around $470 million under an Extended Credit Facility, the fund announced last night
The long-awaited agreement — pending approval by the IMF’s Executive Board — will be Mozambique’s first programme since its last one was interrupted in 2016 after the full extent of the ‘hidden debts’ were revealed. It comes just after finance minister Adriano Maleiane — whom the IMF accused of lying about the hidden debts — was replaced by Max Tonela.

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Also in the news:

• Vale workers have paid more tax to Mozambique than Vale (Verdade)

• Construction works start at Temane energy and gas project (Announcement)

• Number of displaced people in Mozambique rises 7% to 784,000 (Lusa)

• Parts of Cabo Delgado now safe for doctors to return, says association official (Lusa)