CTA asks greatest alignment and cooperation between governmental reforms and the Bank of Mozambique

The Confederation of economic associations of Mozambique (CTA) considers that measures taken, Monday, by the Bank of Mozambique are not sufficient to economic recovery, though recognize that return some confidence to the market. for example, limiting the​ annual use of Bank cards outside the country, set at 700 thousand meticais per person, is seen by the CTA as a good sign but considers that it takes largest alignment between the reform of the Bank of Mozambique and the government. "the Central Bank feel that the market is to respond in relation to your measurements, although not enough. If the adjustments were chain and coordinated in some ways, speak of fiscal policy, where the expense had reduced as should have been probably the magnitude of the adjustment on the side monetary might be less and then the cost to the private sector also could be lower," said the deputy executive director of CTA, Eduardo Sengo. The private sector expects the decisions serve to relieve interest rates, aggravated by the Bank of Mozambique during the peak of economic instability. The deputy executive director of CTA understands that even though the new interest rates to be introduced in April, is some good news that will discipline the banks,it is this new Exchange rate only that CTA considers will create situation of largest predictability in the market, but alert for the difficulty of implementation and daily updating of this instrument.

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