Mozambique: UNDP says natural gas revenue should be spent on social fields
Photo: O País
President of Mozambique Filipe Nyusi says that any Mozambican sovereign fund should operate independently, transparently and predictably, guided by the law. A sovereign fund, he says, cannot be another source of confusion, and managers ending up in jail.
The president was speaking on Wednesday at the opening ceremony of a seminar on sovereign funds organised by the Bank of Mozambique and the International Monetary Fund. Mozambican and foreign managers and experts at the seminar will be discussing conditions for the constitution of a Mozambican sovereign fund built on revenue from mineral resources and natural gas.
President Nyusi laid down the main guidelines for the sovereign fund, stressing that he did not want the establishment of any fund to be a source of disquiet in Mozambique.
The seminar is due to last two days, and tomorrow will be attended by a specialist who will address officials from the Bank of Mozambique and the Ministry of Economy and Finance.
By Orlando Macuácua
About to start. An extremely important conference Bank of Mozambique-IMF for the future of Mozambique. Sharing international experiences on managing natural resources to ensure macroeconomic stability and inclusive growth. pic.twitter.com/ch1xRsnOwH
— Ari Aisen (@AisenAri) March 27, 2019
Source: O País