Bank of Mozambique guides monetary policy to economic growth of 5.5% in 2017

26 January 2017

The Bank of Mozambique will guide monetary policy throughout 2017 in a direction that will safeguard the objectives of macroeconomic and financial stability and ensure economic growth of 5.5% and an inflation rate not exceeding 14%, the central bank’s governor said on Wednesday in Matola.

Rogerio Zandamela said that in addition to coordinating monetary and fiscal policy, the central bank will continue to do “everything that we need to do to resume the programme with the International Monetary Fund (IMF), as a condition for the return of bilateral, multilateral and private capital flow.”

During the 41st meeting of the Advisory Board of the bank, the governor said that the bank will remain alert and vigilant to developments in the financial sector, strengthening prudential supervision through both internal and external inspections.

According to the governor, quoted by Angolan news agency AIM, the central bank instructed credit institutions, as of next March, to publish, on a quarterly basis, information on solvency and liquidity ratios.

The 41st Consultative Council of the bank will be three days long and will discuss subjects of interest to the bank’s activities and to the national economy, organisational and performance issues and the Bank’s performance as well as taking stock of activities and scheduling future actions, among other topics.

The first two days of the meeting are reserved for discussion of internal issues and the third and final day (Friday) will be open to public debate on the theme: Challenges of Modernisation of the Monetary Policy Regime: The Case of the Bank of Mozambique. (macauhub)

MACAUHUB FRENCH