Republic of Mozambique : Staff Report for the 2003 Article IV Consultation

Mozambique's performance under the authorities' program during the first three quarters of 2003 continued to be satisfactory. The discussions focused on the macroeconomic policies for 2004-06 and the government's plans to address pending structural reforms to broaden and sustain growth and further reduce poverty. Discussions on structural issues concentrated on the authorities' plans to remove a number of obstacles to private sector development. A strengthened monetary and exchange rate management will be essential in Mozambique, particularly in view of the high degree of dollarization.