Mozambique 24 August: The vital relationship with the IMF
Good morning. President Nyusi’s trip to the US next month is taking on even more significance, with the revelation in Zitamar on Monday that he is planning to meet the head of the International Monetary Fund, Christine Lagarde, as well as key figures in Mozambique’s future gas development.
The IMF is also planning a trip to Maputo in September, as well as appointing new people to two key posts that will help determine the Fund’s attitude towards Mozambique. Zitamar’s in-depth analysis of the state of this vital relationship is now also available to non-subscribers, as of this morning.
FREE TO READ: Mozambique aims to reconcile with new-look IMF team – but key hurdle remains
Today could bring good news – or disappointment – in Mozambique’s peace process, as the two sides reconvene in the presence of international mediators to see if they can reach agreement on the conditions for a cease-fire.
SEE: Mozambique cease-fire talks suspended until Wednesday
Developments are being closely watched inside and outside the country – and in particular by Mozambique’s neighbours, which can’t escape some of the fall-out. To date, Malawi has been the principal destination for refugees from the conflict, but Zimbabwe is getting nervous.
SEE: Zimbabweans fear cross-border spillovers from Mozambique conflict
The Rovuma Basin, home to Mozambique’s potentially transformative gas reserves, so far remains beyond the scope of Renamo activity. Wentworth Resources is currently looking for partners to come in on its onshore block there.
SEE: Wentworth seeks partners for onshore Mozambique gas block
And finally, Eduardo Mondlane Jr., son of the Frelimo founder, has picked up another senior role in Mozambique’s private sector – becoming non-executive chairman of BancABC, owned by Bob Diamond’s Atlas Mara.
SEE: Atlas Mara appoints Mondlane Jr. head of Mozambique bank
Have a great week.