{"id":46258,"date":"2023-09-07T20:33:31","date_gmt":"2023-09-07T20:33:31","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june"},"modified":"2023-09-07T20:43:05","modified_gmt":"2023-09-07T20:43:05","slug":"international-reserves-fall-to-3-2b-in-june","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june","title":{"rendered":"International reserves fall to $3.2B in June"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, according to figures from the ministry of economy and finance.<\/p>\n

According to the report on the implementation of the Economic and Social Plan and the State Budget from 1 January to 30 June, these reserves guarantee three months of imports of goods and services, excluding imports from major projects, compared to the five months they guaranteed in the same period in 2022.<\/p>\n

In the 2023 State Budget, the Mozambican government set the goal of building up Net International Reserves of $2.93 billion,\u201dcorresponding to three months\u2019 coverage of imports of non-factorial goods and services\u201d.<\/p>\n

Mozambique\u2019s international reserves have been falling since 2021, the International Monetary Fund (IMF) announced in July.<\/p>\n

\u201cGross international reserves cover almost 4.3 months of imports [end-2022], which is above the commonly recommended minimum buffer\u201d of \u201cat least three months,\u201d reads an IMF report on the final approval of the review of the Extended Credit Facility (ECF) for Mozambique.<\/p>\n

It adds that Mozambique\u2019s international reserves have been \u201cfalling since the beginning of 2021\u201d and reached $2.9 billion at the end of last year.<\/p>\n

The IMF recognises the impact of the \u201chigher fuel import costs\u201d on Mozambique\u2019s international reserves, given the supply of foreign currency to the main fuel importers.<\/p>\n

\u201cAt the same time, non-megaproject imports have significantly increased over the past couple of years, further decreasing import coverage of reserves,\u201d the IMF document notes.<\/p>\n

Last January, the Bank of Mozambique increased the ratio of mandatory reserves to foreign demand deposits from 11.5% to 28%, and in April, it reduced the supply to fuel importers from 100% to 60%, the IMF recalled in the report released on Friday.<\/p>\n

The announcement of the IMF\u2019s approval of this revision to the ECF was made on 6 July, guaranteeing a disbursement of $60.6 million (\u20ac54 million) to Mozambique, confirmed today in the institution\u2019s report.<\/p>\n

The note that accompanied the announcement of the second review of the programme approved in May 2022 and which brings the total amount already received by Mozambique to $212.09 million (\u20ac194 million), out of a total of $456 million (\u20ac418 million), said that it allowed two criteria to be overlooked: the primary budget balance at the end of last year and the accumulation of external debts by the public sector.<\/p>\n

In its macroeconomic forecasts for this year, the IMF admits that Mozambique\u2019s Gross Domestic Product (GDP) growth will accelerate from 4.2% in 2022 to 7% this year, anticipating that by the end of the year, inflation will have fallen from 10.3% to 6.7%, the same as in 2021, but still almost double the previous two years.<\/p>\n

The debt-to-GDP ratio is expected to continue its downward trajectory and reach 89.7% by the end of this year, an improvement on last year\u2019s 95.5% of GDP.<\/p>\n

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

Africa-Press – Mozambique. Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, according to figures from the ministry of economy and finance. According to the report on the implementation of the Economic and Social Plan and the State Budget from 1 January to 30 […]<\/p>\n","protected":false},"author":84,"featured_media":46257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-46258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nInternational reserves fall to $3.2B in June - Mozambique<\/title>\n<meta name=\"description\" content=\"Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, ac ...\" \/>\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\/international-reserves-fall-to-3-2b-in-june\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International reserves fall to $3.2B in June\" \/>\n<meta property=\"og:description\" content=\"Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, ac ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june\" \/>\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=\"2023-09-07T20:33:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-07T20:43:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"825\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\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\/international-reserves-fall-to-3-2b-in-june#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"International reserves fall to $3.2B in June\",\"datePublished\":\"2023-09-07T20:33:31+00:00\",\"dateModified\":\"2023-09-07T20:43:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june\"},\"wordCount\":473,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june\",\"name\":\"International reserves fall to $3.2B in June - Mozambique\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg\",\"datePublished\":\"2023-09-07T20:33:31+00:00\",\"dateModified\":\"2023-09-07T20:43:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, ac ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg\",\"width\":825,\"height\":510,\"caption\":\"International reserves fall to $3.2B in June\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/mozambique\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"International reserves fall to $3.2B in June\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#website\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/\",\"name\":\"Mozambique\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/mozambique\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"International reserves fall to $3.2B in June - Mozambique","description":"Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, ac ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june","og_locale":"en_US","og_type":"article","og_title":"International reserves fall to $3.2B in June","og_description":"Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, ac ...","og_url":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june","og_site_name":"Mozambique","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-09-07T20:33:31+00:00","article_modified_time":"2023-09-07T20:43:05+00:00","og_image":[{"width":825,"height":510,"url":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"International reserves fall to $3.2B in June","datePublished":"2023-09-07T20:33:31+00:00","dateModified":"2023-09-07T20:43:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june"},"wordCount":473,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg","keywords":["Africa Press","Africa Press-Mozambique","Mozambique"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june","url":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june","name":"International reserves fall to $3.2B in June - Mozambique","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mozambique\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg","datePublished":"2023-09-07T20:33:31+00:00","dateModified":"2023-09-07T20:43:05+00:00","author":{"@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Mozambique\u2019s Net International Reserves (NIR) fell again at the end of the first half of the year, to $3.209 billion, ac ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#primaryimage","url":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg","contentUrl":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103121.055807.jpg","width":825,"height":510,"caption":"International reserves fall to $3.2B in June"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-fall-to-3-2b-in-june#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/mozambique\/"},{"@type":"ListItem","position":2,"name":"International reserves fall to $3.2B in June"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/mozambique\/#website","url":"https:\/\/www.africa-press.net\/mozambique\/","name":"Mozambique","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/mozambique\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/posts\/46258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/comments?post=46258"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/posts\/46258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/media\/46257"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/media?parent=46258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/categories?post=46258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/tags?post=46258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}