(3 Minutes Read)
The decision was announced by the chairman of the Confederation of Economic Associations of Mozambique (CTA), Agostinho Vuma, at a press conference, in which the CTA accused the central bank of being “insufficiently sensitive” to the problems of companies.
The private sector is to submit overdue invoices to the Bank of Mozambique as evidence of the shortage of foreign currency in the foreign exchange market.
The decision was announced by the chairman of the Confederation of Economic Associations of Mozambique (CTA), Agostinho Vuma, at a press conference, in which the CTA accused the central bank of being “insufficiently sensitive” to the problems of companies.
He explained that foreign currency liquidity swap operations between banks reached historic lows in the second quarter of 2024 to an estimated US$5.5 million, indicating liquidity constraints. In operations between banks and customers, the purchase and sale aggregate grew by 13% from the first to the third quarter of 2024.
President of Mozambique Daniel Chapo met with CEO’s of Mozambique-based commercial banks in Maputo recently along with the Governor of the central bank, Rogério Zandamela, and the Minister of Economy, Carla Louveira.
At the meeting, the CEOs presented their proposals to boost financing for the economy and expand financial inclusion. Participants addressed topics such as access to credit for companies and citizens, the stability of the financial sector and measures for sustainable economic growth.
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The President of the Republic emphasised the need to implement policies that promote a favourable business environment and encourage investment in the country’s production chain.
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