The volume of mandatory reserves of Mozambican banks recorded growth in August, reaching 221 billion meticais ($3.4 billion), according to data released by the Bank of Mozambique. This represents an increase of 3.6% compared to the previous month, when reserves stood at 213.3 billion meticais ($3.3 billion), continuing the recovery trend that began in July.
According to Lusa, despite this temporary increase, the cumulative data for 2025 show a significant 24% drop in mandatory reserves, which were 291.5 billion meticais ($4.5 billion) in December of last year, immediately before the regulatory relief measures came into effect.
The reduction of mandatory reserve requirements was decided by the Monetary Policy Committee of the central bank in January, lowering the ratios from 39% to 29% for local currency deposits and from 39.5% to 29.5% for foreign currency deposits. This measure was justified by the need to inject more liquidity into the financial system, facilitating the recovery of productive capacity and the supply of goods and services, in a context marked by a shortage of foreign currency in the domestic market.
Between January and June 2023, the reserve ratios had been successively increased to absorb excess liquidity in the banking system, which could put pressure on inflation. At that time, the accumulation of mandatory reserves reached a historical peak, representing a growth of nearly 400% since December 2022, when the total was 62.1 billion meticais ($961.6 million).
In statements on March 26, the Governor of the Bank of Mozambique, Rogério Zandamela, said that liquidity in the banking system was sufficient, particularly in foreign currency, and that no new changes to the ratios were planned.
Since then, the central bank has kept mandatory reserve policy unchanged in its three subsequent bimonthly Monetary Policy Committee meetings.
Source: Diário Económico
