Browsing: Business

Economy Bank of Mozambique governor Ernesto Gove and the executive board, November 2015. Photo: Bank of Mozambique
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The Bank of Mozambique raised interest rates again yesterday, despite warnings from the International Monetary Fund (IMF) that its actions have little effect on inflation in Mozambique, which hit 11.6% over the past 12 months.

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Finance Bank of Mozambique governor Ernesto Gove and the executive board, November 2015. Photo: Bank of Mozambique
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The Bank of Mozambique has denied it has any intention to forcibly convert dollar-denominated accounts at Mozambican banks into meticais, insisting everything it is doing to stabilise the currency is in line with existing foreign exchange [...]

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