November 13, 2019 / 9:18 AM / 7 months ago

Mozambique GDP growth seen at 5.5% in 2020 -IMF

A fisherman cleans his boat beneath Maputo's skyline, in this picture taken August 15, 2015. REUTERS/Grant Lee Neuenburg/File Photo

MAPUTO (Reuters) - Mozambique’s economic growth rate will hit 5.5% in 2020, the International Monetary Fund forecast on Wednesday, saying the southern African nation will benefit from factors including reconstruction efforts following two devastating cyclones.

Gradual fiscal consolidation and success in the government’s bid to get additional debt relief from private creditors however remain critical for public debt stability, the fund said in a statement.

Reporting by Manuel Mucari; Writing by Emma Rumney; editing by John Stonestreet

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