Mozambique - 03

Mozambique: Bank of Mozambique Capital Controls: New Risks for IOCs

Despite attempts by the Bank of Mozambique to mitigate the metical’s drop against the US dollar, the currency’s slide is continuing unabated: since November 2014 the metical has lost 75% of its value against the dollar, resulting in increasingly expensive imports. The same is true for the metical’s position versus the rand and euro, though to a lesser extent; the metical has lost 36% and 49% of its value against the rand and euro, respectively, over the past 12 months.

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