IMF Sees 7% Growth for Mozambique as Gas Project Decisions Loom

The International Monetary Fund expects Mozambique’s economy to grow 7 percent in 2015, a year it said could see decisions to develop gas fields in the country and prompt “one of the largest investments ever seen in Africa.”

The gas ventures in northern Mozambique could require investment of as much $100 billion, the Washington-based lender said in a report published Tuesday after a staff mission to the southern African country. Risks to economic growth include declining commodity prices and the need to cut public spending, the IMF said.