Some private sector companies are planning to close down because of the acute shortage of foreign currency in Mozambique to import raw materials.

For example, as Victor Miguel, from the bakery sector, said, there are mills that are unable to import wheat grain and have already issued a note pointing to the closure of their doors.

Cited by STVHe predicts that the situation will have a domino effect on bakeries. "If the grain doesn't arrive here in Mozambique we're going to have a huge crisis in our production, and there could be a shortage of bread."

According to Eduardo Sengo, Executive Director of the CTA, the tourism, transport and logistics sectors and commerce in general are already feeling the impact of the lack of foreign currency.

For Sengo, the solution lies with the Bank of Mozambique (BM), which has been informed of the shortage of liquidity in the national market, and has even received proposals from the private sector on how to resolve the situation.

However, the WB, through the Governor, Rogério Zandamela, said that foreign currency liquidity in the country was at satisfactory levels.

"At the moment, we are calm about the level of liquidity in the system. There's no need to touch on structural liquidity, messing with the mandatory reserves, and that's why we're going to maintain it," he said.

But Sengo challenges Zandamela to present data and stop being sparse in his explanations, so that "we understand what is happening".

If the WB's assertions are true, we need to find out from the commercial banks "what is happening to prevent this liquidity from flowing".