Mozambique's central bank lowered its benchmark standing facility rate by 50 basis points to 22.75 percent and set the new monetary policy interest rate (MIMO) at 21.75 percent.

Mozambique missed a $119 million payment due Tuesday on a loan Credit Suisse Group AG arranged, the second debt repayment the government failed to make in as many months.

(BUSINESS WIRE)--ExxonMobil and Eni have signed today a sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25 percent indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Eni currently holds a 50 percent indirect share in the block through a 71.4 percent stake in Eni East Africa, which owns 70 percent of the Area 4 concession.

Mozambique's central bank left its benchmark standing facility rate at 23.25 percent, saying inflation is continuing to trend downward and may reach a projected 14 percent by the end of the year while economic growth will remain modest in coming months as the country continues to feel the impact of last year's suspension of foreign aid.