The Washington-based International Monetary Fund (IMF) says that the Mozambican economy may grow up to 7% in 2015, a downward revision of half a percentage point compared with previous forecasts.
At the same time Moody’s Investors Service has downgraded Mozambique’s government issuer rating to B2 from B1 and changed the outlook to negative.
On the home front, the Bank of Mozambique’s bad debt indicator reached about four percent in the first six months of this year. And, despite this still being within tolerances (about five percent), the bank says it is at levels “considered worrying” and that it is concerned about the constant rise.
Financial bad news for Mozambique
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