WASHINGTON, 29 April 2020 / PRN Africa / -- Summary:The COVID-19 pandemic is expected to hit Mozambique hard, and the authorities have requested emergency Fund financial assistance through the Rapid Credit Facility (RCF). As of April 16, Mozambique had reported 29 positive cases of COVID-19 but this number is expected to increase rapidly. The impact of the shock is likely to be significant in the short-term, dashing prospects of a nascent economic recovery. Prior to the COVID-19 crisis, Mozambique was rebounding from two Tropical Cyclones (TCs) which struck in 2019 and for which Mozambique benefitted from an RCF disbursement in April 2019.

SOURCE International Monetary Fund (IMF)