Mozambique Clears $700m IMF Debt Ahead of Schedule

Mozambique has repaid about $700 million to the International Monetary Fund ahead of schedule, eliminating all outstanding credit with the institution. IMF data shows the government of President Daniel Chapo had zero credit outstanding as of March 31, following repayment of 514 million in special drawing rights.

The early repayment comes as a surprise and raises questions about the country’s financing strategy and its position in discussions over a potential new IMF program.

Authorities have not…