Central banks of China and Mozambique sign agreement

20 November 2014

The Bank of Mozambique established a cooperation agreement with the People’s Bank of China that seeks to manage reserves and monetary policy and strengthen relationships with potential Chinese investors, the Mozambican central bank said.

The agreement was signed during a visit by Governor Eduardo Gove to Beijing, from 10 to 17 November, and during which he made a presentation about the reality of Mozambique and the main economic indicators, including the rate of inflation, which has remained low, as well as on the stability of the Mozambican currency, the metical.

Gove said that with regard to international cooperation Mozambique has received investments in almost all sectors of the economy, particularly exploration of non-renewable natural resources.

The governor of the Bank of Mozambique noted that trade between Mozambique and China currently totalled around a billion dollars, which could double by the end of the year and highlighted the fact that China’s businesses are involved in the country’s development. (macauhub/CN/MZ)