{"id":47725,"date":"2023-10-01T20:07:34","date_gmt":"2023-10-01T20:07:34","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank"},"modified":"2023-10-01T21:53:30","modified_gmt":"2023-10-01T21:53:30","slug":"international-reserves-guarantee-four-months-of-imports-central-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank","title":{"rendered":"International reserves guarantee four months of imports \u2013 central bank"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambique currently has international reserves of US$3.220 billion, which guarantee the equivalent of four months of estimated imports of goods and services for this year, according to the central bank.<\/p>\n

\u201cThe country\u2019s international reserves remain at satisfactory levels. The country\u2019s external position, measured by gross international reserves, remains satisfactory,\u201d reads a report by the Bank of Mozambique, to which Lusa had access on Thursday.<\/p>\n

The document adds that by 15 September Mozambique had \u201can accumulated balance\u201d of US$3.220 billion (\u20ac3.065 billion), \u201csufficient to cover around four months of imports of goods and services, excluding major projects\u201d.<\/p>\n

In the 2023 state budget, the Mozambican government set the goal of building up net international reserves of US$2.936 billion (\u20ac2.686 billion), \u201ccorresponding to three months\u2019 worth 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 says an IMF report on the final approval of the review of the Extended Credit Facility (ECF) for Mozambique.<\/p>\n

The report adds that Mozambique\u2019s international reserves have been \u201cfalling since the beginning of 2021\u201d and reached US$2.9 billion (\u20ac2.580 billion) at the end of last year.<\/p>\n

The IMF recognises the impact of the \u201chigh costs\u201d of fuel imports on Mozambique\u2019s international reserves, given the supply of foreign currency to the main fuel importers.<\/p>\n

\u201cAt the same time, imports not related to megaprojects have increased significantly in the last two years, further reducing the import coverage of reserves,\u201d the 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 recalls in the report released today.<\/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 currently has international reserves of US$3.220 billion, which guarantee the equivalent of four months of estimated imports of goods and services for this year, according to the central bank. \u201cThe country\u2019s international reserves remain at satisfactory levels. The country\u2019s external position, measured by gross international reserves, remains satisfactory,\u201d reads a report […]<\/p>\n","protected":false},"author":84,"featured_media":47724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-47725","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 guarantee four months of imports \u2013 central bank - Mozambique<\/title>\n<meta name=\"description\" content=\"Mozambique currently has international reserves of US$3.220 billion, which guarantee the equivalent of four months of es ...\" \/>\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-guarantee-four-months-of-imports-central-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International reserves guarantee four months of imports \u2013 central bank\" \/>\n<meta property=\"og:description\" content=\"Mozambique currently has international reserves of US$3.220 billion, which guarantee the equivalent of four months of es ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank\" \/>\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=\"2023-10-01T20:07:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-01T21:53:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/10\/sm_1696180850.071145.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"880\" \/>\n\t<meta property=\"og:image:height\" content=\"495\" \/>\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-guarantee-four-months-of-imports-central-bank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"International reserves guarantee four months of imports \u2013 central bank\",\"datePublished\":\"2023-10-01T20:07:34+00:00\",\"dateModified\":\"2023-10-01T21:53:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank\"},\"wordCount\":325,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/10\/sm_1696180850.071145.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-guarantee-four-months-of-imports-central-bank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/international-reserves-guarantee-four-months-of-imports-central-bank\",\"name\":\"International reserves guarantee four months of imports \u2013 central bank - 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