{"id":24760,"date":"2022-08-15T15:16:59","date_gmt":"2022-08-15T15:16:59","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions"},"modified":"2022-08-15T15:24:21","modified_gmt":"2022-08-15T15:24:21","slug":"cta-foresees-greater-flexibility-in-foreign-currency-transactions","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions","title":{"rendered":"CTA foresees greater flexibility in foreign currency transactions"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Confederation of Economic Associations of Mozambique (CTA) anticipates that the revision of the Foreign Exchange Law will make foreign currency transactions more flexible.<\/p>\n

According to the vice-president of the CTA\u2019s Financial Policies and Services Department, Oldemiro Belchior, approval of the device will render the business environment in Mozambique more favourable to economic agents dedicated to the purchase and sale of currency.<\/p>\n

According to the source, the measure, already approved by the government, will give the country greater foreign currency liquidity for carrying out foreign trade operations, further contributing to earning revenue from export activity.<\/p>\n

Belchior said that the bill would strengthen the national currency and the economic and social development of the country.<\/p>\n

\u201cWhat is expected is that there will be greater flexibility in terms of transactions in foreign currency and that it can, in fact, create a space or a favourable environment among economic agents who transact the purchase and sale of foreign currency,\u201d Belchior said during the discussion of the proposed revision of the Foreign Exchange Law in Maputo on Wednesday.<\/p>\n

\u201cThe Foreign Exchange Law will improve the import process, introducing better commercial transaction practices. There will also be foreign currency easing. Companies that operate in a flexible market will contribute to raising foreign currency,\u201d Belchior added. He also expects the new law to attract foreign direct investment and improve the export process and indeed all international trade transactions, thereby promoting the investment and business environment in Mozambique.<\/p>\n

With the launch of the Economic Acceleration Measures Package by President Filipe Nyusi on Tuesday, Melchior said that it was opportune to discuss the proposed revision of the Foreign Exchange Law, as it would bring about structural changes contributing to macroeconomic stability. \u201cThis is the right moment to debate and reflect on this draft law, especially now that the government has announced a package of measures aimed at revitalising the Mozambican economy,\u201d he noted.<\/p>\n

Asked if the inflow of more foreign exchange into the country would not swamp the metical, Melchior said that he did not see the local currency weakening; on the contrary, the legislative reforms were conducive to improving the business environment.<\/p>\n

\u201cObviously, appreciation of the metical is, without a doubt, essential to ensuring that companies can grow, produce and prosper in an exchange rate environment,\u201d he explained, concluding: \u201cSo there is no risk of our currency weakening.\u201d<\/p>\n

Representatives of the Mozambican Insurance Association (AMS), the Mozambican International Petroleum Operators\u2019 Association (AMOPI), economists and other guests participated in the event.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Confederation of Economic Associations of Mozambique (CTA) anticipates that the revision of the Foreign Exchange Law will make foreign currency transactions more flexible. According to the vice-president of the CTA\u2019s Financial Policies and Services Department, Oldemiro Belchior, approval of the device will render the business environment in Mozambique more favourable to […]<\/p>\n","protected":false},"author":84,"featured_media":24757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8,16],"tags":[233,281,283],"class_list":["post-24760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nCTA foresees greater flexibility in foreign currency transactions - Mozambique<\/title>\n<meta name=\"description\" content=\"The Confederation of Economic Associations of Mozambique (CTA) anticipates that the revision of the Foreign Exchange Law ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CTA foresees greater flexibility in foreign currency transactions\" \/>\n<meta property=\"og:description\" content=\"The Confederation of Economic Associations of Mozambique (CTA) anticipates that the revision of the Foreign Exchange Law ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-15T15:16:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-15T15:24:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/08\/postQueueImg_8-62fa6513209ec.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"751\" \/>\n\t<meta property=\"og:image:height\" content=\"474\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CTA foresees greater flexibility in foreign currency transactions\",\"datePublished\":\"2022-08-15T15:16:59+00:00\",\"dateModified\":\"2022-08-15T15:24:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions\"},\"wordCount\":434,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/08\/postQueueImg_8-62fa6513209ec.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cta-foresees-greater-flexibility-in-foreign-currency-transactions\",\"name\":\"CTA foresees greater flexibility in foreign currency transactions - 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