Mining & Energy
Mozambique should create sovereign fund to manage gas revenues - Capital Economics
RM (file photo)
The Bank of Mozambique says the fuel crisis is not related to lack of money to buy fuel on the international market.
Central Bank Governor Rogério Zandamela said on Monday in Maputo that the annual fuel bill was US$600 million, an amount set aside in international reserves.
Zandamela stressed that the country adopted several measures in response to the cut in international support, including raising the country’s economic reserves.
The next meeting of the monetary policy committee is scheduled for 10 April.Source: Rádio Moçambique
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