The IMF has not instructed the Bank of Mozambique to continue tightening monetary policy in early 2016 following the startling 150 basis point rise in the central bank lending rate to 9.75% on 14 December, bank spokesman Waldemar de Sousa said on 21 December. The IMF approved a $283 million Standby Credit Facility late on…...

Governor Ernesto Gove addresses the Bank of Mozambique end of year review. De Sousa is pictured in the middle of the row. Photo courtesy Bank of Mozambique