World Bank to send mission on debt relief

The World Bank and the International Monetary Fund (IMF) are to send a joint mission to Mozambique next month to asses structural adjustment programmes, media reports said on Tuesday. World Bank representative in Mozambique, James Coates was quoted as saying: “The mission is coming to asses everything from the Maputo Development Corridor, to the exports not only of cashew nuts but also of cotton.” Last month the Mozambican parliament passed a law to protect the cashew nut industry. This triggered concerns that it might cost the country billions of dollars in debt relief from the HIPC debt relief initiative. The cashew nut industry is one of the most important foreign exchange earners for the country.