The President of the Republic, Daniel Chapo, stated on Monday, June 16, that the creation of the national currency in 1980 symbolized the achievement of national sovereignty and the rejection of “foreign domination.”
“The blood shed in Mueda was not in vain—it nourished the fertile ground of our independence and the metical (national currency), created years later. It is one of the most visible outcomes of that independence. The 1960 massacre, and our currency, 20 years later, are signs that we no longer accept having our economy managed from the outside, with imposed currencies and criteria. Hence, our goal to lay the foundations for our economic independence,” said the President.
The country celebrated on Monday, June 16, both the 45th anniversary of the national currency, the metical—created in 1980—and the 65th anniversary of the Mueda massacre, which took place on June 16, 1960, in Cabo Delgado province. This massacre was one of the last episodes of Mozambican resistance to Portuguese colonial rule before the start of the armed liberation struggle on September 25, 1964, which led to Mozambique’s independence on June 25, 1975.
Launching the commemorations of the metical’s 45th anniversary and the 65th anniversary of the Mueda massacre, the Head of State said the national currency was also created as a demonstration of the “sovereignty achieved through great sacrifice,” and called for its protection to ensure the country’s economic growth.
“Both dates (the Mueda massacre and Currency Day), although separated by two decades, are connected by a common thread: the rejection of foreign domination and the unconditional affirmation of the people’s right to determine their own destiny,” said Daniel Chapo.
The central bank governor, in launching the Bank of Mozambique’s scientific sessions, spoke about the stabilization of the metical over the past 45 years. “Today, as we celebrate 45 years of its existence, we can confidently state that the metical is a stable currency, effectively facilitating transactions throughout the country, thanks to various reforms implemented over time that culminated in the stabilization of price levels,” said Rogério Zandamela.
Lusa reported on April 1 that the amount of physical money in circulation in Mozambique fell by 6.5% in January, to 66.9 billion meticais (one billion US dollars), marking the first decline after ten months of increases, according to central bank data.
According to a report from the Bank of Mozambique, the money in circulation in the country had reached a peak of 71.5 billion meticais (1.1 billion US dollars) in December, after consecutive monthly increases since March.
Source: Diário Económico
