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On Feb. 3, 2017, S&P Global Ratings affirmed its long- and short-term foreign currency sovereign credit ratings on the Republic of Mozambique at 'SD/D' and its long- and short-term local currency sovereign credit ratings at 'B-/B'. The outlook on our local currency rating remains stable. 'SD' ratings do not carry an outlook.
Mozambique's central bank left its benchmark standing lending facility interest rate at 23.25 percent, saying the exchange rate and other indicators have begun to evolve in the expected direction and this should pave the way for lower inflation in the short and medium term.
The Bank of Mozambique on Friday ordered the dissolution and liquidation of one of the country's smaller commercial banks, O Nosso Banco (Our Bank).
Fitch Ratings has affirmed Mozambique's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'CC'. The Country Ceiling is affirmed at 'B-' and the Short-Term Foreign and Local Currency IDRs at 'C'.
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