Bank of Mozambique wins IMF praise for anchoring inflation as economy takes off

Central bank holds policy rates to allow economy to recover from flooding

The Mozambican capital, Maputo

The Bank of Mozambique has been commended for its efforts to bring the country's rapid pace of credit expansion back to a more reasonable pace by the IMF, which last week finished a two-week mission to give the country an economic health-check.

The IMF's visit, marking the second review under a three-year Policy Support Instrument (PSI) approved in June 2013, gave the Mozambican economy a glowing report for managing to keep inflation down to 4.2%, which is "likely to stay anchored" despite a

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