Mozambique - Debt Reduction Program Project

@At+ 4T - 4r-o9a Documont of The World Bank FOR OMCIAL USE ONLY Report No. P-5539-MOZ REPORT AND RECOMMENDATION OF THE PRESIDENT OF TRE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT \ AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED GRANT OF UP TO US$22.87 MILLION FROM THE DEBT REDUCTION FACILITY FOR IDA-ONLY COUNTRIES TO THE BANCO DE MO(AMBIQUE FOR A DEBT REDUCTION PROGRAM MAY 24, 1991 Thls document has a restricted distribution and may be used by recipients only in the performance of their offcal duties Its contents may not otherwise be disclosed without World Baok authorization.  rURff= YANW Currency Unit Metical (Mt.) US$1.00 Mt.1,370 (as of April 14, 1991) PRINCIPA\L ABBREVIATIZi ANP; ACRONYM LIE^ BDM = Banco de MoWnbkque ERP = Economic Rehabilitation Program ESW a Economic and Sector Work Facility = Debt Reduction Facility for IDA-Only Countries PFP = Policy Framework Paper ROM = Republic of Mozambique hscal Year January 1 - December 31.  FOR OFFICIAL USE ONLY REPUDIUC OF MOZAMBIQUE DEBT REDUCTION FACILITY FOR IDA-ONLY COUNTRIES BuapImnr: Banco de Mb rambiqe (9OM) DhnhIaIm~: Repbli of Mozambique (ROM) hnuut: Up to US$2.87 mIion Tarr: Grant IrWgr11 DoAn: The proposed grant would prove up to US2.87 million from the Debt Reduction Facility for IDA-Only Countries (the Faciliy) to the Banco de Mogambique (8DM) In support of Mozambique's proposed commerci debt reduction program. The proposed grant would consist of US$10 milion contributed to the Facility from IBRD's FY89 net Inoome and up to US$12.87 million to be contributed to the Fa