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...
The reserve fund of the National Social Security Institute (INSS) exceeded one billion dollars in June, double the amount of the last five years, the government announced. "It is important to note that over the five-year period investment income has exceeded projected income, with an accumulated...
Mozambique's net international reserves for the import of goods and services fell to 3.586 billion dollars for the third consecutive month in April. Since the beginning of the year, Mozambican net international reserves have fallen progressively by 0.5% every month, according to Notícias, which quotes a report by the Bank of Mozambique....
Mozambique's international reserves have been falling since 2021, but still cover 4.3 months of estimated import needs, above the recommended value, the International Monetary Fund (IMF) announced today. "Gross international reserves cover almost 4.3 months of imports, which is above the commonly recommended minimum `buffer'" of "at least three months",...
The value of the gold reserves held by the Bank of Mozambique fell by almost 4% in 2022, to around 230 million dollars, according to central bank data compiled today by Lusa. According to an annual report by the Bank of Mozambique, the country's gold reserves - in coins and bars -...
The Bank of Mozambique (BM) warns that the excess of money in the national banking system could raise the cost of living in the country, so the Monetary Policy Committee has decided to increase the rate of deposits that financial institutions must make per obligation at the BM as a reserve, by 11%. The coefficients of Reserves...
Australian oil company Invictus Energy announced this week the discovery of a hydrocarbon deposit in northern Zimbabwe, in the Cahora Bassa project, whose samples show the occurrence of oil, helium and "high quality" natural gas. The discovery is the result of a re-evaluation of data from a survey carried out by the American company ExxonMobil in...
Available data indicates that, since last week, Cabo Delgado has been suffering from a lack of suppliers, but it is only in the last 72 hours that the scenario has become more noticeable, due to the depletion of reserves at most of the pumps, especially in the city of Pemba. Until yesterday, the situation tended to normalize, with...
Russia will move to the courts to recover the $300 billion in foreign currency-denominated reserves frozen by the West in response to the Kremlin's invasion of Ukraine. "This is an unprecedented [asset] freeze, so we are preparing [the delivery] of court cases," assured Elvira Nabiullina, governor of the...
The Chinese government said Wednesday that, in a coordinated action with other countries, it will draw on its crude oil reserves to try to lower the liquid's high prices. Speaking at a press conference, China's Foreign Ministry spokesman Zhao Lijian said that in addition to using its crude reserves, the...