The IMF will extend approximately USD 60.6 mln to Mozambique following the completion of a review of its ECF arrangement. Despite the country missing two performance criteria due to overruns in wage bill reform implementation and revenue shortfalls, the IMF increased its economic growth forecast for the nation to 7% from the previous 5% projection. The fund noted that Mozambique’s fiscal deficit was wider than expected in 2022 due to the cost of implementing wage bill reform.