Bank of Mozambique stops contributing to fuel import bills

The Department of Markets and Reserve Management and the Interbank Foreign Exchange Market of the Bank of Mozambique, the country’s central bank, issued a communique on Wednesday, May 31st last week, addressing the institutions participating in the Interbank Foreign Exchange Market.

The communique stated that, starting from Monday, June 5th, the Bank of Mozambique would cease its contribution towards the payment of import invoices for liquid fuels.

This decision comes about 13 years after the then governor of the Mozambican central bank, Ernesto Gove, determined that the entity would start to make money available for the payment of invoices which had been, until August 2010, supported by commercial banks.