Mozambique pays debt to IMF in full – aimnews.org

Maputo, 1 Apr (AIM) – The Mozambican government paid in full, last March, its outstanding debt of 515.04 million Special Drawing Rights (equivalent to 630.1 million US dollars) to the International Monetary Fund (IMF).

According to the IMF’s “Total movement of outstanding credit (from March 1, 2026 to March 31, 2026)”, Mozambique’s outstanding debt was 515.04 DSE at the beginning of this period, but fell to zero at the end of March. Mozambique is the only country in this situation among 85 countries listed.

The fact that Mozambique is no longer in arrears with the IMF could help the government’s efforts to obtain more loans from the Fund.

In a February assessment, the IMF did not announce decisions on new support. At that time, the country’s outstanding credit with the IMF had reached 226 percent of its quota.

Under the latest Extended Credit Facility (ECF) program, the IMF approved approximately US$468 million for Mozambique in 2022. The program was suspended in April 2025, after four tranches had been disbursed, totaling approximately US$343 million.

Mozambique was scheduled to repay the IMF US$98 million in 2026, US$107.5 million in 2027, US$129.3 million in 2028 and US$136.4 million in 2029. This schedule can now be thrown out, as Mozambique has chosen to pay off the debt early.

President Daniel Chapo said in June 2025 that a new program was expected to be signed that year, in line with the Government’s vision. “Later this year, if everything goes well, we will sign a new program that will allow us, with the Government’s new vision, to continue an excellent relationship with the IMF,” he said.

IMF Deputy Director General Bo Li seemed to agree, saying on May 17 in Maputo that a new program was planned. “Our team will work together. In the coming weeks and months we will discuss a new program and we are committed to supporting the Mozambican economy to help maintain macroeconomic and financial stability,” he said after meeting with Chapo.

Clearing arrears could pave the way for a new program. The Mozambican government has not yet commented on the matter.
(AIM)
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