The National Director of Economic Policies and Development at the Ministry of Economy and Finance, Enilde Sarmento, guarantees that the package agreement for the management of the sovereign fund will be concluded this month.

Quoted by Matutino NewsHe assured that work on creating the Sovereign Fund's investment policies is at an advanced stage.

The signing of the agreement will legitimize Banco de Moçambique as the operational manager of the account, whose earnings will come from gas exploration in the country.

"We're rushing to get all the instruments in place. The first concern was the regulation because the law gave us 60 days to complete this step. At the same time, we are working on the management agreement and the investment policy. The forecast is that everything will be closed this April to allow the Bank of Mozambique to make the Fund operational," he said.

However, before the contract is signed, its terms will still have to be assessed by the Council of Ministers, he said.

Among other things, the document is expected to establish the models to be followed for accountability, investment processes and their deadlines, and the hiring of internal managers.