The volume of credit granted to the economy registered a slight decrease in April, settling at around 284.5 billion meticais (3.9 billion dollars), according to official data from the Bank of Mozambique (BdM).
According to the central bank’s statistical report, this is the second-lowest monthly figure in the past year, only above the amount recorded in February, when total credit reached 284 billion meticais (3.8 billion dollars). The historic peak was reached in November 2024, with about 291 billion meticais (almost 4 billion dollars).
By sector, credit to individuals remained high, reaching a new record of 100.8 billion meticais (1.3 billion dollars). This was followed by the transport and communications sector with a total of 25 billion meticais (340.2 million dollars), the manufacturing industry with 22.1 billion meticais (300.3 million dollars), and commerce with 21 billion meticais (285.6 million dollars).
Regarding monetary policy, the Monetary Policy Committee (CPMO) decided on May 30 to reduce the monetary policy interest rate (MIMO) by 75 basis points, to 11%. This measure was justified by the consolidation of inflation forecasts in single digits, despite significant internal risks remaining.
“The CPMO will continue the process of normalizing the rate in the medium term. The pace and magnitude of cuts will depend on the evolution of inflation, as well as the analysis of the risks and uncertainties that remain,” said BdM Governor Rogério Zandamela, emphasizing that the reduction follows the path defined by the institution.
The next meeting of the Monetary Policy Committee is scheduled for July 30.
Source: Lusa
