Mozambique has requested financial assistance from the International Monetary Fund (IMF). It is the first time in a decade such a request has been made, Chinese state-run news agency Xinhua reported on Monday.

Michel Lazare, Assistant Director in the IMF’s African Department, led a staff team from the fund on a visit to Mozambique during the past two weeks, Xinhua said. One of the goals was to reach understandings on the terms of an IMF Standby Credit Facility (SCF), the IMF said in a press release quoted by Xinhua.

The release added the Mozambican authorities and the IMF team had reached “a staff-level agreement on an 18-month economic framework through 2017 that could be supported with 204.48 million Special Drawing Rights (about US$286 million) under the IMF’s SCF.”

Xinhua also reported the arrangement is subject to approval by the IMF’s management and its Executive Board, probably before year- end.

The IMF last week cut its growth forecast for Mozambique, Portuguese news agency Lusa reported. The fund said it now predicts the Mozambican economy to grow 6.3 percent in 2015 and 6.5 percent in 2016.

The IMF’s previous growth forecast for Mozambique suggested a 7-percent economic growth in 2015 and an 8.2-percent expansion in 2016, the news agency added.