The World Bank has resumed its aid to Mozambique, after six years of suspension following a financial scandal involving the government, by granting the country a grant of 300 million dollars.
An agreement was signed on this subject in Maputo, between the Mozambican finance minister, Max Tonela, and the World Bank country director for Mozambique, Idah Pswarayi-Riddihough.
This official of the global financial institution stressed that the financing comes “in support of structural reforms” undertaken in recent years by the authorities.
Mozambique was sanctioned for a few years by international donors following the secret loans of 1.8 billion dollars undertaken by public companies, with the agreement of the State, from foreign banks. This so-called “hidden debt” affair broke out in 2016.
Probably, progress noted in good governance in the country has made it possible to change the situation. Last May, the International Monetary Fund (IMF) granted a loan of 456 million dollars to Maputo to finance reforms “in the management of public resources and governance”.
By OMA Newsletter N° 833 of 08/23/2022
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
