IMF praises efforts to diversify Mozambican economy

The International Monetary Fund (IMF) has lauded the endeavour to make the economy of Mozambique more diverse, saying oil, gas and mining are no longer the main drivers of growth, O País reports.

The Mozambican newspaper quotes an IMF official, Ari Aisen, as saying the economy is no longer dependent only on oil, gas and mining, although they still play an important part.

Mr Aisen said other drivers of economic growth were farming-related businesses, tourism and financial services.

He said tourism had great potential but required more investment.

Interest rates should be reduced to make it easier for private enterprises to borrow, O País quotes Mr Aisen as saying.