Fuel imports, since MAY.2023 managed by the Bank of Mozambique (BdM), are indicative of the centralization of processes. ROGÉRIO ZANDAMELA (RZ), governor of the BdM, is the target of criticism from businesspeople, accused of a restrictive and "monetarist" policy and of indifference to calls for a gradual depreciation of interest rates over the past 4-5 years (AM 1348).
Despite praising the improvement in credit conditions for the economy, which had reached unsustainable levels, especially for the private sector, with the reduction of the monetary policy interest rate (MIMO) from 14.25% to 13.50% on 30.SEP, the Confederation of Economic Associations of Mozambique (CTA), composed mainly of businessmen linked to FRELIMO and the government, criticised the decision to maintain the mandatory reserve coefficient for liabilities in national currency at 39%, accusing RZ of contributing to the foreign exchange crisis. READ MORE