International investors have been asked to accept a 20% haircut and longer tenor on Mozambique’s EMATUM loan, which funded spending on a military now facing allegations of human rights abuses against the civilian population
A report on corruption in Mozambique’s business environment has given the country a score of zero out of 100 for its enforcement of laws prohibiting the bribery of public officials, and argues that Mozambican businesses have little incentive to promote [...]
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.
The Mozambique government finalised its 2015 economic report on Tuesday, claiming inflation fell below government projections for the year, despite official figures showing the rate was in fact more than double the government target.
Mozambique’s credit rating is due to be updated tomorrow by ratings agency Standard & Poor’s, while their counterparts at Moody’s are understood to be in Maputo today, 4 February, holding talks with officials at the ministry of finance.
The Bank of Mozambique’s monetary policy committee decided to leave its benchmark interest rates unchanged on Friday, to ‘consolidate the gains’ of the sharp measures it took at the end of 2015 aimed at stabilising the value of the metical and curbing [...]
The Bank of Mozambique is likely to continue raising interest rates this year even if it holds them steady at today’s monetary policy committee meeting, according to economists surveyed by Zitamar News
The IMF has not instructed the Bank of Mozambique to continue tightening monetary policy in early 2016 following the startling 150 basis point [...]
As the IMF meets to deliberate a $286m loan for Mozambique, analysts are concerned that EMATUM bond repayments could yet jeopardise the country’s revised budget, passed in parliament this week
Central bank shocks observers with 'radical and unprecedented' monetary tightening, aimed at consolidating recent gains made by the metical and curbing inflation
- Bank of Mozambique raises lending rate 150bp to 9.75%, deposit rate 100bp to 3.75%
- Commercial banks [...]