On March 27, 2026, Mozambique fully repaid a debt of 514.04 million Special Drawing Rights (SDR), equivalent to approximately USD 701.4 million, to the International Monetary Fund (IMF).

The amount repaid represents 3.1 % of the estimated GDP for 2025. Standard Bank notes that this debt was one of the most concessional credits in Mozambique's external portfolio, and that its early repayment will have a limited impact on short-term treasury pressures.

Analysts believe this early payment strengthens the country's external credibility but offers little immediate relief to public finances. The early repayment could reduce foreign exchange reserves from USD 4.2 billion in December 2025 to approximately USD 3.5 billion, or about five months of imports, excluding major investment projects.

It allows Mozambique to avoid the post-financing assessment mission scheduled for August and strengthens its position for future negotiations with the IMF. However, treasury pressures and structural vulnerabilities persist.