Bank of Mozambique calls for prudence despite recovery of the economy
[ 2010-01-28
]
Maputo, Mozambique, 28 Jan – The governor of the Bank of Mozambique, Ernesto Gove, Wednesday called on the country’s government to be prudent in its financial management, despite optimistic forecasts for world economic performance from this year onwards.
Speaking at the opening of the 24th executive Council of the Bank of Mozambique, which began Wednesday in Maputo, Gove noted that, following the world financial crisis, projections for economic performance for this year were optimistic, but those indicators “should be viewed with some caution.”
“Improvement of the economic activity indicators, as well as the indicators of developed economies and emerging nations, continue to bolster the most recent optimistic projections about the performance of the world economy from 2010,” the governor of the Mozambican central bank said.
“However, these signs should continue to be viewed with some caution, given the high level of uncertainty of risks that are still prevalent in the markets, in a climate the continues to be characterised by low interest rates, high unemployment rates and high budgetary deficits,” he noted.
At the 24th Consultation Council the Mozambican Central Bank will discuss the role of instrastructures in promotion of economic development and the establishment of financial services as well as the status of banking levels in the economy and expansion of financial services to rural areas.
Coverage by financial products and services in rural areas, where over half of the 20.2 million Mozambican populations lives, is one of the concerns of the Mozambican authorities, who are focusing on developing those regions as a way of combating poverty. (macauhub)
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