Bank of Mozambique
Banknotes: January to March 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Mozambique’s government owes central bank over $600 million – auditors
Auditors say government is obliged to compensate central bank over forex movements
Mozambique president reappoints governor
Former IMF official Zandamela has faced inflation, Covid-19 and fallout from alleged fraud
Bank of Mozambique hikes policy rate by 300 basis points
MPC cites Covid-19, conflict and natural disasters as it orders increase
Mozambique slashes rates to 13.25%
Inflation is falling, but IMF warns that after-effects of cyclones could push prices back up
Mozambique sources new payments IT provider after dispute
Payment dispute pushes central bank to speed up unification of payment systems; US-based firm chosen to supply computer system for interbank network
Mozambique resumes cutting cycle on lower inflation
Prices continue to fall within single digits, but concerns around public debt leave central bank on high alert
Mozambique’s payment system provider cuts off service
BizFirst says it has not been paid by the banks or the country’s central bank for use of its software
Mozambique central bank cracks down on AML breaches
A total of $2.6 million in fines is divided among 15 institutions found in breach of legislation; IMF says AML/CFT controls need to be more efficient
Mozambique central bank praised for monetary framework overhaul
IMF staff approve of changes made towards interest rate corridor, but say the central bank should remain vigilant with regard to prudential regulation
People: RBI’s new deputy gains BIS scholarship; Mozambique names deputy
Reserve Bank of India appoints BIS scholarship winner to deputy post; Victor Gomes takes role at Bank of Mozambique; and more
Mozambique governor hikes rates by 600bp as inflation hits record high
IMF spokesman says talks continuing over audit of government finances as newly appointed governor makes fifth and biggest rate rise of 2016
Mozambique replaces governor Gove with IMF official
Ernesto Gove leaves central bank after a decade in the role; new governor to leave role as head of IMF mission to Djibouti and Somalia
World Bank report sees risks if Mozambique continues to raise rates
Report praises efforts of central bank so far but says further tightening could harm certain sectors of the economy; exchange rate volatility having adverse effects on debt
Soaring inflation sees Mozambique hike by 100bp
Inflation reaches 11.25% in January as a result of food-price shock; central bank hikes while government attempts to focus on other figures
People: Mozambique deputy moves to airline; Mervyn King joins Aston Villa FC board
Bank of Mozambique deputy moved from central bank to national airline; former BoE governor joins premier league team board of directors; and more
IMF supports tighter monetary policy in Mozambique
Rate rises are necessary to counter the inflationary pressures of currency depreciation, Fund says
Mozambican central bank balances food import pressures with domestic industry concerns
Bank of Mozambique holds interest rates as it comes under pressure over the value of its currency; accused of artificially propping up the value of the metical
Bank of Portugal intensifies central bank cooperation programme
The Bank of Portugal completed 105 projects by September this year; the majority of which were conducted with central banks from other Portuguese-speaking countries
Bank of Mozambique wins IMF praise for anchoring inflation as economy takes off
IMF mission finds the Mozambican central bank is containing rapid credit growth and inflation as the economy grows amid heavy government investment
Mozambique cuts rates again as inflation undershoots target range
Inflation in Mozambique has fallen below the central bank's target range despite IMF predictions to the contrary; measures in place to improve monetary policy transmission