Mozambique 🇲🇿 has fully repaid its $701 million debt to the IMF ahead of scheduleMozambique 🇲🇿 has fully repaid its $701 million debt to the IMF ahead of schedule.
The country cleared the full amount in March, bringing its IMF debt to zero, the only nation currently in that position.
The early repayment surprised analysts and shows strong financial discipline
The loan carried low interest and flexible terms, meaning the overall debt relief is limited.
The repayment is also expected to reduce foreign exchange reserves by about $650–700 million.
Namibia, Nigeria and other African nations have also recently paid off or reduced their obligations to the IMF.