The Governor of the Bank of Mozambique (BdM), Felisberto Navalha, has stated that the fuel supply disruptions recently recorded 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 experienced during a prolonged public holiday weekend, which disrupted normal supply operations — a position consistent with the explanation already provided by the Ministry of Mineral Resources and Energy (MIREME).
"The regulator issued a communiqué making it clear that the problems occurring in Maputo and in some cities across the country have nothing to do with a foreign exchange deficit," he said.
According to the governor, the difficulties were operational in nature and are expected to be resolved as fuel supplies are gradually restored. "There were operational problems over the long weekend that led to the situation we now find ourselves in," Navalha explained, adding that fuel is being distributed to different points across 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 seen recently has nothing to do with a lack of foreign exchange for fuel," the governor stressed, at a time when market concerns persist 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 over the same period of the previous year.
Despite ruling out a link between foreign exchange availability and the current fuel supply constraints, Navalha identified the evolution of international prices as one of the risks being monitored by the BdM within the framework of monetary policy. "At this moment, we are seeing some risks rise, particularly those related to international fuel prices," he said.
In addition to fuel, Navalha cited movements in food commodity prices — particularly wheat and rice — as another risk factor for inflation. These are compounded by domestic factors associated with weather conditions, which could also exert upward pressure on prices in 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/
