IMF supports tighter monetary policy in Mozambique
Rate rises are necessary to counter the inflationary pressures of currency depreciation, Fund says
International Monetary Fund staff "commended" the October decision of the Bank of Mozambique to tighten its monetary policy in a report published on January 8, while offering support for further rate increases.
Alongside the staff report, the IMF's executive board granted Mozambique a 'standby credit facility' in special drawing rights (SDR), equivalent to approximately $283 million.
The IMF directors said they "supported the tighter monetary policy stance" in a separate statement, while
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