Business people and money experts love what the Central Bank just did. The bank said anyone earning foreign money must change half of it to local cash. This puts more dollars and euros into our markets right away. Most companies were stuck waiting months to buy any foreign cash they needed. The new rule helps fix this money shortage that hurts many local firms.
More than sixty big companies had waited over three months to buy dollars. These firms could not pay for imports or supplies without this cash. The new rule makes sure half of all export money stays here as real cash. Some people wish the rule would last longer than just a short time. Bank leaders think sharing this burden makes sense for everyone.
Money expert Hélio Cissa believes these changes will help families buy more with their cash. The bank wants more dollars available for everyone who needs them. Another expert named Clésio Foia sees even bigger benefits coming soon. He thinks large companies must keep more money inside our country's banks from now on. The private sector had asked for help, and the bank finally listened.
The Bank of Mozambique acted as the money boss for the whole country. Through an official notice, they raised the rule from thirty percent to fifty percent. All banks must follow this new command starting right away. Any money earned from selling things abroad falls under this rule, and money from investments outside the country must follow the same rules as well.
Because of this change, local banks will have more dollars to sell, making it easier for people to buy things from other countries. The Central Bank hopes this will fix the cash problem quickly. Markets work better when dollars flow more freely between buyers and sellers. Many business owners feel happy about this change after months of struggle.
More than sixty big companies had waited over three months to buy dollars. These firms could not pay for imports or supplies without this cash. The new rule makes sure half of all export money stays here as real cash. Some people wish the rule would last longer than just a short time. Bank leaders think sharing this burden makes sense for everyone.
Money expert Hélio Cissa believes these changes will help families buy more with their cash. The bank wants more dollars available for everyone who needs them. Another expert named Clésio Foia sees even bigger benefits coming soon. He thinks large companies must keep more money inside our country's banks from now on. The private sector had asked for help, and the bank finally listened.
The Bank of Mozambique acted as the money boss for the whole country. Through an official notice, they raised the rule from thirty percent to fifty percent. All banks must follow this new command starting right away. Any money earned from selling things abroad falls under this rule, and money from investments outside the country must follow the same rules as well.
Because of this change, local banks will have more dollars to sell, making it easier for people to buy things from other countries. The Central Bank hopes this will fix the cash problem quickly. Markets work better when dollars flow more freely between buyers and sellers. Many business owners feel happy about this change after months of struggle.
