Mozambique's international reserves of around 3.2 billion dollars only guarantee the equivalent of four months of estimated imports of goods and services for this year, according to the central bank.

"The country's international reserves remain at satisfactory levels. The country's external position, measured by gross international reserves, remains satisfactory," reads a report by the Bank of Mozambique, quoted by Lusa.

The same central bank report indicates that by September 15 Mozambique had "an accumulated balance" of 3.2 billion dollars, "enough to cover around four months of imports of goods and services, excluding major projects".

Meanwhile, in the 2023 State Budget, the Mozambican government has set itself the goal of building up Net International Reserves of 2.9 billion dollars, "corresponding to three months' coverage of imports of non-factorial goods and services".

"Gross international reserves cover almost 4.3 months of imports [end-2022], which is above the commonly recommended minimum buffer," of "at least three months," says an IMF report on the final approval of the review of the Extended Credit Facility (ECF) for Mozambique.

The report adds that Mozambique's international reserves have been "falling since the beginning of 2021" and reached 2.9 billion dollars at the end of last year.