Mozambique, East Timor central banks agree on technical cooperation
Mozambique: Domestic public debt increases slightly – cenbank
3:18 CAT | 14 Feb 2019
File photo: Macauhub
Domestic public debt has increased by 509 million meticais (the US dollar is worth 61 meticais at the official exchange rate) since December, and currently stands at 112,525 million meticais.
The figure appears in a press release issued by the Bank of Mozambique at the end of the Monetary Policy Committee meeting (CPMO) held in Maputo on Monday.
“The information from January shows that the flow of domestic public debt contracted with Treasury Bills, Treasury Obligations and advances granted by the Bank of Mozambique has increased by 509 million meticais since the last CPMO, bringing the balance to 112,525 million meticais,” the statement reads.
According to the Bannk of Mozambique, the figure does not take into account other domestic public debt values, such as mutual and leasing contracts, as well as default liabilities.
The Bank of Mozambique also warns that external risks have worsened. “There is growing fears of a slowdown in world growth as trade tensions between major economies continue to have an impact on foreign trade flows and volatility of international commodity prices, particularly oil,” it says.
The price of a barrel of oil stood at US$62.10 at the close of February 8, 2019, against US$64.81 on the same day in 2018.
“The CPMO will continue to monitor economic and financial indicators and risk factors and will not hesitate to take the necessary corrective measures before its next meeting, scheduled for April 24, 2019,” the central bank said, quoted by AIM.
Nevertheless, the CPMO considers that there are risks associated with the sustainability of the public debt, natural calamities, and uncertainties regarding the evolution of administered priced goods and services.
The CPMO meeting had initially been scheduled for 21 February, but was then brought forward to Monday of this week.
Source: Noticias
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