The governor of the Bank of Mozambique (BdM), Felisberto Navalha, has stated that the recent fuel supply disruptions experienced in Maputo and other cities across the country are not linked to a shortage of foreign exchange in the market.
Navalha reiterated that the problems stemmed from operational and logistical difficulties encountered during the extended long weekend, which disrupted normal supply chains — a position consistent with the explanation already put forward by the Ministry of Mineral Resources and Energy (MIREME).
"The regulator issued a communiqué that makes clear that the problems occurring in Maputo and in some cities of the country have nothing to do with a foreign currency deficit," he said.
According to the governor, the difficulties were operational in nature and are expected to be resolved as supply is gradually restored. "There were operational problems throughout the long weekend that led to the situation we now find ourselves in," Navalha explained, adding that fuel is being distributed across different parts of the country.
Navalha also dismissed the possibility that the disruptions were linked to any incapacity within the banking system to provide foreign currency for fuel import payments. "Fuel invoices that have been presented to the banking system have been paid in a timely manner," he said.
"The apparent crisis observed recently has nothing to do with a lack of foreign exchange for fuel," the governor stressed, at a time when concerns persist in the market over the availability of foreign currency to finance imports.
To support this position, the central bank chief highlighted the evolution of foreign currency liquidity in the market. According to Navalha, up to August, the banking system had purchased approximately US$5.7 billion from its clients and other economic agents — above the volume recorded in the same period of the previous year.
Despite ruling out a connection between foreign exchange availability and the current fuel supply constraints, Navalha identified the trajectory of international prices as one of the risks being monitored by the BdM as part of its monetary policy framework. "At this moment, we are seeing some risks rising, particularly those related to international fuel prices," he said.
In addition to fuel, Navalha flagged the evolution of food commodity prices — particularly wheat and rice — as another risk factor for inflation. Domestic factors linked to weather conditions were also cited as potential sources of upward price pressure within the country.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/10/01/oilgas/banco-central-afasta-relacao-entre-escassez-de-divisas-e-crise-combustiveis/
