Mozambique has over US$3 billion in foreign reserves at end of 2013

15 January 2014

Mozambique’s net foreign reserves at the end of December rose by US$81 million to US$3.009 billion, the Bank of Mozambique said Tuesday in a statement.

According to the statement from the Monetary Policy Committee, the total at the end of 2013 covers 5.1 months of imports of goods and services.

The Committee also said that inflation in 2013 had reflected the stability of Mozambique’s currency, the metical, on the domestic foreign exchange market, the development of monetary aggregates alongside an appropriate supply of fruit and vegetables on the market following the recovery of the agricultural sector after flooding.

The Bank of Mozambique’s Monetary Policy Committee also said it had decided to keep the interest rate on its permanent liquidity facility at 8.25 percent and the permanent deposit facility at 1.5 percent. (macauhub)