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    1 September, 2016
President appoints IMF official to head Bank of Mozambique
 
Maputo, 1 Sep (AIM) – Mozambican President Filipe Nyusi on 31 August appointed Rogerio Zandamela, a senior official at the International Monetary Fund (IMF), as governor of the Bank of Mozambique.

Zandamela takes over from Ernesto Gove, who leaves the central bank after serving two five year terms of office. Gove was appointed in 2006, and given a second term in 2011.

Zandamela is the Mozambican who has risen highest in the IMF, where he has been working since 1988. He is currently head of mission for Djibouti and Somalia, in the IMF’s department for the Middle East and Central Asia. Over an IMF career spanning almost 30 years, he has also been resident representative in Brazil, and head of mission in Armenia, Costa Rica, Gambia, Guatemala, Liberia, Malaysia, Nicaragua, Peru, Trinidad and Tobago and Zimbabwe. He holds a doctorate in economics from the John Hopkins University in the United States.

Zandamela takes over the helm at the central bank at a time of increased inflation and sharp depreciation of the national currency, the metical. The annual inflation rate has now reached around 20 per cent, and so far this year the metical has depreciated by 34 per cent against the dollar.

The Bank of Mozambique has depended heavily in increasing interest rates in order to fight inflation. In late July it increased the Standing Lending Facility (the interest rate paid by the commercial banks to the central bank for money borrowed on the Interbank Money Market) by 300 base points, from 14.25 per cent to 17.25 per cent. This level of interest rates is unprecedented in recent years.
(AIM)
 
 
  2 December, 2019  
 
AIDS related deaths fell 20 percent over five years
 
President Filipe Nyusi declared on 1 December in the northern city of Nampula that the number of deaths from HIV/AIDS in Mozambique fell by 20 per cent between 2014 and 2018.

 
  18 November, 2019  
 
President addresses Catholic Bishops
 
President Filipe Nyusi on 16 November challenged the Catholic Church to continue its commitment to achieving the social well-being of Mozambicans and indicated that dialogue should be one of the paths chosen.

 
  17 November, 2019  
 
New water system for Gorongosa inaugurated
 
More than 30,000 people will benefit from clean drinking water in Gorongosa town, in the central Mozambican province of Sofala, thanks to a new water supply system that President Filipe Nyusi inaugurated on 15 November.

 


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