Chapos

IMF Conditions Leave President Chapo Facing Political Costs and Economic Uncertainty President Daniel Chapo's bid to secure a new International Monetary Fund (IMF) loan — a linchpin he hoped would catalyze foreign investment and stabilise the country's ailing economy — has stalled after the IMF board set strict preconditions. The fund has demanded major fiscal reforms and a devaluation of the local currency as prerequisites for any agreement, a package that analysts say will be politically fraught for Chapo's ruling Frelimo…