Ms. Doris C Ross, Victor Duarte Lledo, Mr. Alex Segura-Ubiergo, Mr. Yuan Xiao, Ms. Iyabo Masha, Mr. Alun H. Thomas, and Mr. Keiichiro Inui
The countries in the East African Community (EAC) are among the fastest-growing economies in sub-Saharan Africa. This report highlights Mozambique’s remarkably strong growth over the two decades since the end of the civil war in 1992, as well as the major challenges that remain for the country to rise out of poverty and further its economic development.
Mozambique’s economy is at a turning point, and efforts to address governance and
corruption vulnerabilities can have a lasting positive impact. The current levels of public
debt have caused us to take a hard look at our governance and anti-corruption framework and
have prompted various reforms to address the vulnerabilities exposed in this framework. In
general, the problems in our society, and specifically corruption, have been examined in
detail recently and are clearly macro-critical.2 One study estimated the costs of corruption to
Mozambique during the period 2002 to 2014 at up to USD 4.9 billion (approximately 30
percent of the 2014 GDP).3 The impact of these costs is widespread, affecting taxpayers,
public service providers, the financial and private sector, as well as Mozambique’s
international reputation.4 These costs are especially harmful at a time when our country has
been hit by a series of shocks, notably the fall in commodity prices, drought, the withdrawal
of donor budget support, and, more recently, Tropical Cyclones Idai and Kenneth. At the
same time, Mozambique stands poised to reap significant revenues from natural resource
reserves, and our duty as the government is to ensure the responsible stewardship of those
funds for both current and future generations. By taking meaningful steps now to implement
the governance and anti-corruption framework in an evenhanded, consistent, and effective
manner, and to support efforts toward transparency and individual and institutional
accountability, as the government, we can aim to achieve enduring results.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund. Independent Evaluation Office
This independent evaluation of the IMF’s role and performance in the determination and use of aid to low-income countries in sub-Saharan Africa is presented at a ground-level view. Country performance has improved in many sub-Saharan Africa countries over the period, and the report details the role of the IMF’s programs, as well as perceptions of that role. The report is an important contribution to following through on the IMF’s commitment to its Poverty Reduction Strategy and makes three main recommendations for improving the coherence—actual and perceived—of the IMF’s policies and actions relating to aid to sub-Saharan Africa going forward.