The Confederation of Economic Associations of Mozambique (CTA) suggests that the Bank of Mozambique review the mandatory reserve rates, currently close to 40%. In the view of businesspeople, these rates, combined with the shortage of foreign currency, could jeopardize the national economy's growth forecasts for this year. From 2022 to 2023, the Bank...
Just as the information about the return to the Mozambican state of the seven million dollars disbursed by Privinvest to bribe Manuel Chang, the former Minister of Finance, was not in the public domain, information was concealed that, in fact, this amount was not returned by Manuel Chang, as the Deputy Attorney General recently revealed...
Sales of goods by the Mozambican economy to the rest of the world earned the country 636.1 million dollars in March this year, an increase of 37.9 million dollars compared to the previous month. The figures are contained in the Monthly Summary of Statistical Information released a few days ago by the Bank of Mozambique (BdM) and...
The new series of Metical banknotes and coins enter into circulation today throughout the country, the Governor of the Bank of Mozambique, Rogério Zandamela, announced on Saturday. The notes of one thousand (1000 meticais), five hundred (500 meticais) and two hundred (200 meticais) are produced on a durable paper substrate, 100% cotton. And the most widely circulated notes, namely...
According to the Governor of the Bank of Mozambique (BM), the vulnerability of the Mozambican financial system requires a combination of monetary and fiscal policies. For Rogério Zandamela, this harmonization could promote balance in the national economic sector. He says that he should not ignore the possibility of the actions of the two policies generating mutual interference. In this sense, in the...
The Governor of the Bank of Mozambique (BM), Rogério Zandamela, points to the high levels of state indebtedness as one of the main factors preventing the implementation of economic reforms. According to Zandamela, the Mozambican government, public sector, corporate sector, families and households are all "heavily indebted". Speaking in Rwanda at a meeting of...
Mozambique loses more than 100 billion meticais every month due to recurrent failures in the national banking system, according to an analysis by the Center for Public Integrity (CIP). "Continuous Payment System Failures Can Cost the Economy More Than 103.54 Million Meticais a Month, and Quarterly Around 310.62 Million...
Time and time again, commercial banks in the Mozambican market have registered anomalies in the services provided to their customers. The situation has become increasingly entrenched in recent months. The banking constraints occur cyclically and are covered by the press when, for consecutive days, it is not even possible to withdraw, deposit or transfer money. A...
The financial operations of market and reserve management, treasury, foreign exchange, transactions between public and financial entities and the stock exchange will now be carried out through an integrated computer system, the Bank of Mozambique (BM) announced on Thursday (04). The mechanism could be implemented soon, and will be a method of...
The National Director of Economic Policies and Development at the Ministry of Economy and Finance, Enilde Sarmento, guarantees that the package of agreements for the management of the sovereign fund will be concluded this month. Quoted by the daily newspaper Notícias, she assured that work on creating the Sovereign Fund's investment policies is at an advanced stage. The signing of the...