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Mozambique slashes prime lending rate as recession deepens

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Justice Nwafor

Justice Nwafor is an award-winning journalist covering finance, energy, climate, and economic development across the region.
  • Central bank lowers prime rate to 16.5% in September from 17.20% in August
  • Borrowing costs remain high despite 10 consecutive policy rate cuts since January

 

MAPUTO, MOZAMBIQUE – Mozambique has slashed its prime lending rate for September to 16.5%, extending its monetary easing cycle as the country battles recession and fragile political stability.

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