Mozambique Needs More Money to Import Fuel

The Mozambican government is negotiating with the International Monetary Fund (IMF) and the World Bank for an additional 50 million US dollars in its foreign reserves to strengthen its capacity to import refined fuels, reports Tuesday’s issue of the Maputo daily “Noticias”.

Finance Minister Manuel Chang said that the government target of eight per cent growth for this year may have to be reviewed downwards because of the sharp increase in the price of oil. “There is no doubt that the situation of fuel prices affects the national economy”, he said.

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