CNBC Africa: Mozambique must speed up LNG projects, reforms to maintain growth -IMF

Mozambique must complete contract negotiations for the production of liquefied natural gas and also fast track key structural reforms. This is in order for the country to maintain strong economic growth, the International Monetary Fund said this week.

The IMF forecasts the southern African nation’s economy to expand by 7.5 per cent in 2014 from seven per cent the previous year, but said delays in implementing reforms to tax administration and public financial management could hurt medium-term growth.

The 2014 forecast is down from a previous projection of eight per cent. “Completion of the contract negotiations for the production of liquefied natural gas (LNG) is a critical milestone for the launch of this project, one of the largest in sub-Saharan Africa,” the IMF said in a statement.
MORE