Wpid Money Growth

Mozambique’s central bank pledged Wednesday to continue to take measures to guarantee the country’s macroeconomic stability.

For this year, the bank expects the economy to grow 5.5 percent and with an average inflation kept at 14 percent, said Rogerio Zandamela, governor of the central bank.

“The market has reacted to the measures that we have taken, the exchange rate inverted the cycle of depreciation that characterized it and consequently the annual inflation rate rolled back in December after the peak of nearly 27 percent registered in November,” said the bank governor.

The governor is confident that the drop of the inflation rate will continue throughout the year.

On the other hand, the central bank acquired foreign exchange at 250 million U.S. dollars to balance its international net reserves that were going down following the drop of investments and interruption of international financial support by cooperation partners. Enditem

Source: Xinhua/NewsGhana.com.gh

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

For Latest Updates Follow us on Google News
Previous articleUkraine’s industrial production sees recovery in 2016
Next articleSouth African stocks close in red on Wednesday
News Ghana is a premier news source that covers daily news of Ghana, Africa and the World over.


Please enter your comment!
Please enter your name here