Bank of Mozambique Consultative Council holds 3-day meeting in Lichinga

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Bank of Mozambique Consultative Council holds 3-day meeting in Lichinga

11:39 CAT | 24 Jan 2018

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The Bank of Mozambique Consultative Council will meet from today until Friday in Lichinga, capital of the northern province of Niassa, for an analysis of the country’s economic situation.

The meeting will discuss the issue of cross-border trade and its impact on the local economy.

At the meeting, staff of the Mozambican central bank will also take stock of 2017 activities, schedule future actions and address internal institution issues, including the bank’s organisation and operation.

The Consultative Council of the Bank of Mozambique is an extended consultation body of the Board of Directors of the Mozambican central bank.

Bank of Mozambique governor Rogério Zandamela said recently in Maputo that the country needed reforms and fiscal discipline if it was to return to levels of economic growth seen prior to 2016.

During a closing ceremony of the 2017 economic year on December 18, the central bank governor said that returning economic activity to standards previously achieved “will require reform, fiscal discipline and selfless commitment”.

Up to the third quarter of 2017, the economy registered annual growth of 3 percent, while in the eight years prior to 2016 the country had registered gross domestic product growth of six to seven percent per year.

Source: Lusa