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Mozambique Exchange Rate

Curr	Buy	Sell
EUR	38,80	39,58
USD	29,25	29,85
ZAR	2,87	2,93

Date: 20/06/2013
Source: BCI

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Mozambique on Africa Economic Outlook 2008

Mozambique: Real GDP growth moderated slightly to an estimated 7.2 per cent in 2007, down from 8 per cent in 2006, because of oil price increases and a downturn in traditional exports. Growth was driven mainly by booming investment in mineral resources, industry, services, and agro-industry, as well as by the good performance of the construction sector as a result of donor-financed infrastructure projects. Overall, economic expansion inMozambique will be robust in the short term, withGDP growth expected to be 7 per cent and 6.8 per cent in 2008 and 2009 respectively.

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Standard Bank - Diversifying into higher value-adding production

Mozambique’s graduation to an IMF-sponsored Policy Support Instrument from a Poverty Reduction and Growth Facility signals that it has now set the foundation for macroeconomic stability through containment of inflationary pressures; liberalizing and subsequently stabilizing the foreign exchange rate regime; reducing interest rates through a reduction in monetary financing of the government budget; reducing the external vulnerability of the economy through lower external debt and the building up of a level of net international reserves that will cushion this small, open economy from exogenous shocks.

Economic Report on Africa 2007

The Economic Report on Africa 2007 “Accelerating Africa’s Development through Diversification”, is a very rich an informative report, offering not only in depth analyses but practical solutions. Produced jointly by the African Union Commission and the United Nations Economic Commission for Africa, the report comes as a sequel to work produced by the two entities in 2005 and 2006 on Assessing Regional Integration in Africa (ARIA).
The analyses reported in ERA 2007 review the world economy and map out prospects for development in Africa through the institution of structural reforms to diversify and modernize the economy, enhance competitiveness, promote trade, accelerate growth and reduce poverty.

Download here the Economic Report PDF document

Mozambique on Africa Economic Outlook AfDB-OECD 2007

The joint AfDB-OECD report, “African Economic Outlook 2007”, reviews the recent economic situation, the likely short-term evolution, and the social and political context of selected African economies. The AEO features a country-by-country analysis based on a common analytical framework and a simple macroeconomic model to provide forecasts for 2007 and 2008.
According to the report, “Mozambique has been one of the world's most rapidly growing economies over the past five years, with much of the impetus coming from reconstruction efforts and extensive foreign investment in projects based on natural resources.”

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Competitiveness of the Mozambican economy

This decade the Mozambican economy has grown off a very low base at record-high growth rates on
the back of substantial foreign direct investment (FDI) in mega projects and generous donor support. Mozambique’s trade weighted exchange rate appreciated in 2006, implying that the metical
strengthened against a basket of its trade partners’ currencies. This real appreciation largely reflects a
rising inflation environment and weaker currency in the economy of its largest trade partner, South
Africa. For an economy that exports mainly low-value soft commodities and has an underdeveloped
manufacturing industry, a strong metical is contrary to the country’s development objectives.
Mozambique may not be able to control its trade partners’ macroeconomic environments but it can
control the effect of buoyant donor inflows on its currency.
(Standard Bank Group Economics)

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Economy of Mozambique

At independence in 1975, Mozambique was one of the world's poorest countries. Socialist mismanagement and a brutal civil war from 1977-92 exacerbated the situation. In 1987, the government embarked on a series of macroeconomic reforms designed to stabilize the economy. These steps, combined with donor assistance and with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate.
By Wikipedia, the leading user-contributed encyclopedia.

Maintaining the macroeconomic gains

If Mozambique maintains macroeconomic stability and a healthy level of foreign exchange reserves, the
International Monetary Fund will most likely recommend its graduation to a Policy Support Instrument (PSI) on its completion of the Poverty Reduction Growth Facility in July 2007. Under the PSI, the IMF provides a monitoring and advisory role to the country in question but unlike the PRGF this programme excludes financing.

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Mozambique Government Budget for 2007 [portuguese]

A number of pieces of legislation related to business and the economy in Mozambique were published in March 2007. See in the pdf bellow. [portuguese version]

read more. Download pdf here