Mozambique has fully repaid its debt to the International Monetary Fund (IMF), amounting to €630 million, while negotiating a new assistance program, according to an update from the institution.
The IMF’s report on total “outstanding credit” from March 1 to 30, 2026, shows that at the start of this period, Mozambique owed 514.04 million SDR (Special Drawing Rights), equivalent to €630.1 million. By the end of March, the country’s outstanding credit had fallen to zero, making it the only nation in this situation among a list of 85 countries.
In its latest evaluation of Mozambique, published in February, the IMF did not announce decisions regarding a new support program, which the government has been attempting to finalize for a year. At that time, Mozambique’s outstanding credit with the IMF had reached 226% of its quota. A post-financing review is scheduled for August 2026, with further consultations planned within 12 months.
Under the previous Extended Credit Facility (ECF) program, the IMF approved financing of approximately $468 million (€398.5 million) in 2022. However, the program was suspended in April 2025, after about $343 million (€292 million) had been disbursed in four tranches. Scheduled repayments included $98 million (€83.4 million) in 2026, $107.5 million (€91.5 million) in 2027, $129.3 million (€110 million) in 2028, and $136.4 million (€116.1 million) in 2029.
Read more about this topic: Mozambique’s debt has tripled since 2020, reaching €6.627 billion
The IMF has also been a key provider of technical assistance to Mozambique, supporting governance, public finance management, natural resource management, monetary and macroprudential frameworks, and statistical capacity across the public and financial sectors.
President Daniel Chapo stated in June 2025 that a new program aligned with government reforms in the public sector was expected to be signed within that year. These plans have been reaffirmed in subsequent months, including early 2026.
Deputy Managing Director of the IMF, Bo Li, previously confirmed in May 2025 in Maputo that the institution intended to advance a new support program for Mozambique, emphasizing cooperation to maintain macroeconomic and financial stability.
The IMF and Mozambican authorities agreed to conclude consultations under the previous plan and begin negotiations for a new program to better align IMF support with the priorities of the new government. The Mozambican government has assured that the IMF remains open to a financing program, including support for the state budget.
