Mozambique Commits to New IMF Deal After Early Debt Settlement

Mozambique will continue to work with the International Monetary Fund on the framework for a new program after repaying $700 million to the fund early and in full, the finance ministry said.

The surprise move to settle the obligations even as the government faces severe liquidity pressures raised questions over its motives for doing so, and what it might mean for its ambitions to negotiate a new deal with the Washington-based lender, having abandoned its previous facility a year ago.