April 24, 2020 / 8:20 PM / a month ago

IMF approves $309 mln in emergency financing to Mozambique to address coronavirus hit

JOHANNESBURG, April 24 (Reuters) - The International Monetary Fund (IMF) said on Friday it has approved a disbursement of $309 million to help Mozambique meet urgent balance of payment and fiscal needs stemming from the coronavirus pandemic.

“Mozambique is expected to be significantly affected by the COVID-19 pandemic, dashing prospects of a nascent economic recovery following two powerful tropical cyclones that struck in 2019,” IMF Deputy Managing Director and Chair Tao Zhang said in a statement.

IMF’s emergency financial support under the Rapid Credit Facility (Reporting by Nqobile Dludla; Editing by Sandra Maler)

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