The Bank of Mozambique (BM) reveals that exports of goods from the Mozambican economy earned the country around 2,205 million dollars, an increase of 650.7 million dollars when compared to the third quarter of 2021. This increase was due to the revenue generated by the products of major projects (GP) and the traditional economy, which...
Tag: Bank of Mozambique (BM)
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Interest rate stays at 17.25% in 2023 and Metical appreciates 3.1%
Fitch Solutions predicts that the Bank of Mozambique (BM) will maintain the reference interest rate at 17.25% over the next year, sustained by economic growth of 6.5% and a 3.1% appreciation of the metical. According to the most recent analysis of Mozambique's economic and monetary policy, this consultancy owned by...
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Foreign citizens will now receive salaries in their accounts domiciled in Mozambique
Foreign workers and employees residing in Mozambique will no longer receive their salaries in their accounts in their country of origin and salaries will be processed for their accounts domiciled in Mozambique. Information received by our editorial suggests that this is a measure imposed by the Bank of Mozambique. The procedure for the execution of the...
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Exchange house involved in the hidden debts is in liquidation and "silent" dissolution
The Bank of Mozambique (BM) has submitted a petition for the liquidation and dissolution of Africâmbios, the foreign exchange house allegedly involved in the biggest national financial scandal, Hidden Debts, according to the Center for Public Integrity (CIP). "After Africâmbios' involvement in Hidden Debts was exposed and its low-level collaborators prosecuted,...
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NGO accuses Central Bank of stifling Mozambican entrepreneurs and families
The Center for Democracy and Development (CDD) accuses the Bank of Mozambique (BM) of being obsessed with one-digit inflation, which stifles Mozambican entrepreneurs and families. According to the NGO, the Central Bank's "aversion" to inflation leads the regulator into an "increasingly vicious" cycle of making money more expensive...
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Tete's coal exports almost quadruple in Q2 2022
According to data from the Bank of Mozambique (BM), in the most recent report on the Economic Environment and Inflation Outlook, coal exports grew by US$586 million in the second quarter. That is, they reached 817 million dollars, almost four times the value recorded in the same period of 2021 (228 million dollars). In the...
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Cost of living should decrease by December - predicts Standard Bank
The cost of living in Mozambique may see a slight decrease according to the latest forecasts from Standard Bank. The bank predicts that by December this year inflation will stabilize at an average of 11.71 PT2T, after the August peak, estimated at 12.21 PT2T. The scenario may derive from internal and external shocks, among which...
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BM extends Standard Bank's suspension from the interbank foreign exchange market
Standard Bank will remain barred from participating in the interbank foreign exchange market for another year, 12 months after the Bank of Mozambique (BM) suspended the institution in this type of operations for "serious offenses". "The decision stems from the fact that the central bank found, during its monitoring of that financial institution since July...
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Central Bank pays more than half of the fuel import bill
The fuel import bill for the Mozambican market has already absorbed 368 million dollars, and the Bank of Mozambique (BM) has paid another half of that amount, or 201 million dollars, corresponding to 54%, leaving the remainder in the responsibility of the commercial banks. According to the newspaper "Notícias" this is only the amount referring to the...
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WB should bet on strategies for economic system resilience, says IMF
The International Monetary Fund (IMF) argues that the Bank of Mozambique (BM) should minimize conflicts between financial and price stability for the resilience of the economic system. The information was advanced, during the opening of the 13th edition of the scientific days of the central bank. The debate of the thirteenth edition, whose aim is to encourage...