MAPUTO, Sept. 2 — Mozambican President Daniel Chapo on Wednesday urged Felisberto Dinis Navalha, newly sworn-in central bank governor, to help lay the foundations for the country’s economic independence, a priority of the government’s current term.
“The government has defined the construction of foundations for economic independence as its main priority, and this does not mean isolation,” Chapo said at the swearing-in ceremony in Maputo. “We want a country that is open to foreign investment and domestic trade.”
The president said Mozambique should progressively produce more of what it consumes, add value to its resources, increase exports and create jobs, particularly for women and young people, who make up the majority of the population.
“That is why we are investing in value chains, diversifying the productive base of our economy, expanding infrastructure, improving the business environment, developing the blue economy, promoting digitalization, establishing development corridors and strengthening the development framework, particularly for agriculture,” Chapo said.
Chapo urged Navalha to align the central bank’s work with those ambitions while safeguarding macroeconomic and financial stability through effective and competitive management.
“This is where the central bank plays a key role in our economy. The responsibility entrusted to you should be understood within the new national context,” the president said, adding that the benefits of macroeconomic stability should be felt in Mozambicans’ daily lives.
He also asked the new governor to keep inflation under control, saying rising prices erode consumers’ purchasing power and weigh most heavily on low-income households. (Namibia Daily News / Xinhua)
