Presentation by IMF Resident Representative in
Mozambique for the Development Partners Group,
August 5, 20041,2
Inflation dropped slightly: In June 2004 in Maputo
inflation fell slightly, which implies accumulated inflation
in the last 12 months of 13.3 percent (see attachment
from INE). Accumulated inflation this year through June
amounted to 6.4 percent which implies that to meet the
program target of 11 percent by end 2004 monthly
inflation would have to average about 0.8 percent. We
continue to believe that this is achievable assuming that
there is no concentration of external disbursements at
the end of the year (as occurred in 2003) and continued
appropriate monetary policy.
The inflation in the last 12 months has been driven by
sharp increases in the cost of housing (19 percent), food
(13 percent), and, to a lesser extent, petroleum products
(11 percent).
Interest Rates rose slightly in July: Banco de
Moçambique continued to maintain its reference
interest rates at 8.25 (FPA) percent and 18.5 percent
(FPC). Recent issues of TAMs at very short maturities
show stable market interest rates which are now just
above 8 percent, but issues of longer maturities, at just
1
The Development Partners Group is comprised of the Heads of Mission of all bilateral
donors and multilateral institutions that operate in Mozambique.
2
This document has not been reviewed by the IMF’s Executive Board.
-2-
about 13 percent, indicate an increase of about ½ to 1
percentage point compared to June.
The Metical appreciated slightly vis a vis the dollar.
Both the BM and commercial market rates (at which the
majority of foreign exchange transactions occur)
appreciated about 5 percent in the first seven months of
2004. This is largely the result of a gradual change in
BM foreign exchange market intervention policy.
The GOM issued T-bills at the beginning of July for a
net increase in government debt of about MT 110 billion.
The rates on these issues were more or less the same as
at the end of last year—just over 13 percent. This
represents an increase in T-bill rates compared to May
and June issues.
An IMF inspection mission of SISTAFE took place last
week. The conclusions were:
• There has been considerable progress in recent
months.
o A revised ministerial decree was issued in June
to make GOM procedures consistent with
SISTAFE
o The management framework of the reform
process has been strengthened
o The collaboration between UTRAFE (the reform
management unit) and the main functional
departments of the MPF has intensified.
• Short term --The conditions are set to achieve the
IMF benchmark of making SISTAFE operational as
of October which means that the third quarter
budget execution report will be produced using
-3-
SISTAFE and one of the new budget classifiers and
that the MPF will execute the budget through
SISTAFE, including funds transfers to ministries
and agencies and the consolidation of reports, with
the existing system as a back-up. If the benchmark
is not met it will likely have been as a result of
political impediments and/or bureaucratic infighting
rather than technical problems.
• Medium term-The key is to expand the functionality
of SISTAFE and the key measure would be to stop
advance payments which undermine budget
discipline and control by allowing line ministries to
spend beyond allocations in the budget.
• Longer term-There is a need to step up training of
Mozambicans to be able to manage the new system.
An IMF mission will begin work in Maputo September 924 with the purpose of assessing economic
developments and compliance with program targets.
A new letter of intent will be negotiated.
ÍNDICE DE PREÇOS NO CONSUMIDOR TOTAL E POR CLASSES 2002 - 2004 - MAPUTO
Descrição
pond
Ano
Jan
Fev
Mar
Abr
Mai
Jun
Jul
Ago
Set
Out
Nov
Dez
Quadro 1. Indice Mensal (Base: Dezembro 1998 = 100)
Total
Alimentação, Bebidas e Tabaco
Vestuário e Calçado
Conforto de Habitação
Saúde
Transportes e Comunicações
Educação, Cultura e Recreio
Outros Bens e Serviços
100.00 2002
2003
2004
144.1 146.0 145.0 145.4
157.1 160.7 164.9 166.9
184.4 185.3 187.1 189.6
145.6
169.7
190.8
147.1 148.6 149.4
168.3 168.3 169.4
190.7
149.6 150.2
170.6 172.3
153.0
173.8
157.5
179.2
63.46 2002
136.9 137.3 136.5 135.8
135.1
135.9 137.9 138.6
139.7 140.7
144.9
151.4
2003
151.0 155.0 159.8 162.6
165.9
163.6 162.8 162.9
163.7 165.3
167.1
175.0
2004
180.7 181.6 183.2 186.9
187.6
185.8
4.62 2002
123.0 123.3 123.3 123.3
123.4
123.4 123.4 123.4
123.4 124.5
124.6
126.1
2003
122.2 122.0 123.2 123.1
123.0
123.3 123.0 120.9
122.4 122.7
122.3
122.3
2004
124.0 124.6 124.6 125.0
125.0
125.5
17.01 2002
183.0 188.6 181.5 185.1
189.1
194.2 192.9 195.1
191.2 190.2
190.5
189.9
2003
189.8 195.3 199.5 198.7
201.3
201.3 203.5 204.4
207.8 211.6
213.0
215.0
2004
223.9 224.5 229.7 230.1
234.1
239.3
2.46 2002
103.4 104.7 106.5 106.8
106.0
108.1 118.9 118.8
119.1 119.3
117.4
119.3
2003
115.8 117.7 122.0 127.4
127.5
128.4 125.1 128.7
129.9 130.2
133.4
133.4
2004
133.4 133.7 131.5 131.5
131.5
131.2
4.63 2002
170.1 184.5 198.3 202.1
202.3
202.5 204.2 205.1
206.0 206.0
205.0
204.7
2003
204.7 204.8 205.4 208.9
210.0
210.2 210.2 230.5
230.7 230.7
232.0
232.3
2004
231.6 233.0 232.0 232.2
232.6
233.9
2.75 2002
131.6 131.5 131.5 131.6
131.4
132.8 132.8 132.8
132.8 133.3
136.5
144.5
2003
146.9 146.8 147.3 147.7
147.7
147.7 148.1 149.9
149.5 149.4
149.4
149.9
2004
150.4 150.7 151.2 151.2
151.3
151.2
5.07 2002
126.1 125.5 126.1 126.7
127.0
127.5 128.4 128.6
129.9 131.2
132.4
135.9
2003
136.7 139.3 143.6 145.3
149.0
150.8 153.6 151.9
152.3 152.7
153.1
154.0
2004
153.2 155.1 156.2 157.1
157.8
157.9
Quadro 2. Variação Mensal
Total
Alimentação, Bebidas e Tabaco
Vestuário e Calçado
Conforto de Habitação
Saúde
Transportes e Comunicações
Educação, Cultura e Recreio
Outros Bens e Serviços
100.00 2002
-0.2
1.3
-0.7
0.3
0.1
1.1
1.0
0.6
0.1
0.4
1.9
2.9
2003
-0.3
2.3
2.6
1.2
1.6
-0.8
0.0
0.6
0.7
1.0
0.9
3.1
2004
2.9
0.5
1.0
1.3
0.6
-0.1
63.46 2002
-2.0
0.3
-0.6
-0.5
-0.5
0.6
1.5
0.5
0.8
0.7
3.0
4.5
2003
-0.2
2.6
3.1
1.8
2.0
-1.4
-0.5
0.0
0.5
1.0
1.1
4.7
2004
3.3
0.5
0.9
2.0
0.4
-0.9
4.62 2002
3.9
0.3
0.0
-0.1
0.1
0.0
0.0
0.0
0.0
0.9
0.1
1.2
2003
-3.1
-0.2
1.0
-0.1
-0.1
0.3
-0.2
-1.8
1.3
0.3
-0.3
0.0
2004
1.4
0.5
0.0
0.3
0.0
0.4
17.01 2002
2003
4.2
3.0
-3.8
2.0
2.1
2.7
-0.6
1.1
-2.0
-0.5
0.2
-0.3
-0.1
2.9
2.1
-0.4
1.3
0.0
1.1
0.4
1.7
1.8
0.7
0.9
2004
4.2
0.2
2.3
0.2
1.8
2.2
2.46 2002
2003
-0.5
1.3
1.7
0.3
-0.8
2.0
9.9
0.0
0.3
0.2
-1.6
1.6
-2.9
1.7
3.6
4.4
0.1
0.7
-2.6
2.9
0.9
0.2
2.4
0.0
2004
0.0
0.2
-1.7
0.0
0.0
-0.2
4.63 2002
2003
0.7
8.4
7.5
1.9
0.1
0.1
0.8
0.4
0.4
0.0
-0.5
-0.2
0.0
0.1
0.3
1.7
0.5
0.1
0.0
9.6
0.1
0.0
0.6
0.1
2004
-0.3
0.6
-0.4
0.1
0.2
0.6
2.75 2002
2003
0.0
0.0
0.0
0.1
-0.2
1.1
0.0
0.0
0.0
0.4
2.4
5.9
1.7
-0.1
0.3
0.3
0.0
0.0
0.3
1.2
-0.2
-0.1
0.0
0.4
2004
0.3
0.2
0.3
0.0
0.0
0.0
5.07 2002
2003
0.7
-0.5
0.5
0.5
0.3
0.3
0.7
0.2
1.0
1.0
0.9
2.6
0.6
1.9
3.1
1.2
2.6
1.2
1.8
-1.1
0.3
0.3
0.3
0.5
2004
-0.5
1.2
0.7
0.6
0.4
0.1
(Maputo,Junho) - 1/5
Descrição
pond
Ano
Jan
Fev
Mar
Abr
Mai
Jun
Jul
Ago
Set
Out
Nov
Dez
Quadro 3. Variação Acumulada
Total
100.00 2002
-0.2
1.2
0.5
0.7
0.9
1.9
3.0
3.5
3.6
4.1
6.0
9.1
2003
-0.3
2.0
4.7
6.0
7.7
6.9
6.9
7.5
8.3
9.4
10.4
13.8
Alimentação, Bebidas e Tabaco
Vestuário e Calçado
Conforto de Habitação
2004
2.9
3.4
4.4
5.8
6.5
6.4
63.46 2002
-2.0
-1.7
-2.2
-2.8
-3.3
-2.7
-1.2
-0.8
0.0
0.7
3.8
8.4
2003
-0.2
2.4
5.5
7.4
9.6
8.0
7.5
7.6
8.1
9.2
10.4
15.6
2004
3.3
3.8
4.7
6.8
7.2
6.2
4.62 2002
3.9
4.2
4.2
4.2
4.3
4.3
4.3
4.3
4.3
5.2
5.4
6.6
2003
-3.1
-3.2
-2.3
-2.4
-2.5
-2.2
-2.4
-4.1
-2.9
-2.7
-3.0
-3.0
2004
1.4
1.9
1.9
2.2
2.2
2.6
17.01 2002
2003
4.2
7.4
3.3
5.4
7.6
10.5
9.8
11.0
8.9
8.3
8.5
8.1
-0.1
2.9
5.0
4.6
6.0
6.0
7.1
7.6
9.4
11.4
12.2
13.2
2004
4.2
4.4
6.8
7.0
8.9
11.3
2.46 2002
2003
-0.5
0.8
2.5
2.8
2.0
4.1
14.4
14.3
14.7
14.8
13.0
14.8
-2.9
-1.3
2.3
6.8
6.9
7.7
4.9
7.9
8.9
9.2
11.8
11.8
2004
0.0
0.3
-1.4
-1.4
-1.4
-1.6
4.63 2002
2003
0.7
9.1
17.4
19.6
19.7
19.8
20.8
21.3
21.9
21.9
21.3
21.1
0.0
0.1
0.3
2.1
2.6
2.7
2.7
12.6
12.7
12.7
13.3
13.5
2004
-0.3
0.3
-0.2
0.0
0.1
0.7
2.75 2002
2003
0.0
0.0
0.0
0.0
-0.2
0.9
0.9
0.9
0.9
1.3
3.7
9.8
1.7
1.6
1.9
2.2
2.2
2.2
2.5
3.7
3.5
3.3
3.3
3.7
2004
0.3
0.5
0.8
0.9
0.9
0.9
5.07 2002
2003
0.7
0.2
0.7
1.2
1.4
1.8
2.5
2.7
3.7
4.7
5.7
8.5
0.6
2.5
5.7
6.9
9.7
11.0
13.0
11.8
12.1
12.4
12.7
13.3
2004
-0.5
0.7
1.5
2.1
2.5
2.5
100.00 2002
22.9
24.9
23.2
22.2
19.5
18.3
16.6
15.2
14.3
10.5
8.9
9.1
2003
9.0
10.1
13.7
14.8
16.5
14.4
13.2
13.3
14.0
14.7
13.6
13.8
Saúde
Transportes e Comunicações
Educação, Cultura e Recreio
Outros Bens e Serviços
Quadro 4. Variação Homóloga
Total
Alimentação, Bebidas e Tabaco
Vestuário e Calçado
Conforto de Habitação
Saúde
Transportes e Comunicações
Educação, Cultura e Recreio
Outros Bens e Serviços
2004
17.4
15.3
13.5
13.6
12.5
13.3
63.46 2002
26.8
27.3
26.1
24.6
19.6
17.4
16.0
13.9
14.3
9.6
8.4
8.4
2003
10.4
12.9
17.1
19.8
22.8
20.4
18.0
17.5
17.2
17.5
15.3
15.6
2004
19.7
17.1
14.6
14.9
13.1
13.6
4.62 2002
18.8
18.4
18.8
17.9
17.4
14.7
12.4
12.4
11.7
11.3
6.8
6.6
2003
-0.6
-1.1
-0.1
-0.1
-0.3
-0.1
-0.3
-2.1
-0.9
-1.4
-1.9
-3.0
2004
1.5
2.2
1.2
1.5
1.6
1.8
17.01 2002
2003
19.8
24.7
17.9
18.2
20.1
21.0
17.1
16.9
11.6
7.9
8.3
8.1
3.7
3.6
9.9
7.3
6.5
3.7
5.5
4.8
8.7
11.3
11.8
13.2
18.9
2004
18.0
14.9
15.2
15.8
16.3
2.46 2002
2003
7.3
11.0
8.7
9.1
7.6
8.1
18.7
14.4
13.9
15.0
13.0
14.8
12.0
12.4
14.6
19.3
20.3
18.8
5.2
8.3
9.1
9.1
13.6
11.8
2004
15.2
13.6
7.7
3.2
3.1
2.2
4.63 2002
2003
19.7
29.9
39.6
36.1
33.3
33.7
34.4
35.4
35.7
36.0
21.3
21.1
20.3
11.0
3.5
3.4
3.8
3.8
2.9
12.4
12.0
12.0
13.1
13.5
2004
13.1
13.8
13.0
11.2
10.8
11.3
2.75 2002
2003
7.2
5.1
6.9
7.2
6.8
7.9
7.9
6.7
6.8
6.1
4.6
9.8
11.6
11.6
11.9
12.2
12.4
11.2
11.5
12.8
12.6
12.1
9.4
3.7
2004
2.4
2.7
2.7
2.4
2.4
2.4
5.07 2002
2003
14.0
13.1
13.6
13.4
12.8
11.1
9.0
8.7
8.5
7.4
6.2
8.5
8.3
11.0
13.9
14.7
17.3
18.3
19.6
18.1
17.2
16.4
15.7
13.3
2004
12.1
11.3
8.8
8.2
5.9
4.7
(Maputo,Junho) - 2/5
CONTRIBUIÇÃO MENSAL EMJUNHO DE 2004
Quadro 5. Contribuição
Quadro 6. Produtos com
por classes
Quadro 7. Produtos com
maior contribuição positiva
Descrição
Alimentação, Bebidas e Tabaco
Vestuário e Calçado
Conforto de Habitação
Saúde
Transportes e Comunicações
Educação, Cultura e Recreio
Outros Bens e Serviços
-0.58
0.01
0.46
0.00
0.03
0.00
0.00
TOTAL
-0.07
Descrição
Carvão
Petróleo
Pão
Frango vivo
Arroz corrente
Passagem de avião
Farinha de milho branco
Outros
Sub-total
maior contribuição negativa
Descrição
Milho branco
Tomate
Batata
Coco
Couve
Carapau congelado de 2ª
Açúcar amarelo
Outros
Sub-total
0.37
0.08
0.06
0.05
0.04
0.03
0.02
0.07
0.72
-0.30
-0.07
-0.06
-0.05
-0.05
-0.04
-0.04
-0.20
-0.80
CONTRIBUIÇÃO ACUMULADA ATÉ JUNHO DE 2004
Quadro 8. Contribuição
por classes
Quadro 9. Produtos com
maior contribuição positiva
Descrição
Alimentação, bebidas e tabaco
Vestuário e calçado
Conforto de habitação
Saúde
Transportes e comunicações
Educação, cultura e recreio
Outros bens e serviços
Total
3.84
0.08
2.31
-0.03
0.04
0.02
0.11
6.37
Descrição
Tomate
Carvão
Lenha
Cebola
Pão
Amendoim
Água
Outros
Sub-total
Quadro 10. Produtos com
maior contribuição negativa
Descrição
Batata
Milho branco
Ovos de galinha
Laranja
Frango vivo
Chamadas telefónicas internac
Feijao nhemba
Outros
Sub-total
0.96
0.75
0.60
0.51
0.50
0.44
0.41
2.98
7.15
CONCEITOS
Ponderador de um item é o seu peso no valor total das despesas de uma família, em percentagem.
Índice de Preços no Consumidor é o rácio ponderado do conjunto dos preços em relação ao período base
Variação Mensal é a variação entre o índice de determinado mês e o do mês anterior, em percentagem.
Variação Acumulada é a variação entre o índice de determinado mês e o de Dezembro do ano anterior, em percentagem.
Variação Homóloga é a variação entre o índice de determinado mês e o homólogo do ano anterior, em percentagem.
GRÁFICO 1. VARIAÇÃO MENSAL
2002
2003
2004
5.0
4.0
3.0
2.0
1.0
0.0
Jan
Fev
Mar
Abr
Mai
Jun
Jul
-1.0
-2.0
-3.0
(Maputo,Junho) - 3/5
Ago
Set
Out
Nov
Dez
-0.16
-0.12
-0.09
-0.07
-0.05
-0.04
-0.03
-0.22
-0.78
GRÁFICO 2.VARIAÇÃO ACUMULADA
2002
2003
2004
25.0
20.0
15.0
10.0
5.0
0.0
Jan
Fev
Mar
Abr
Mai
Jun
Jul
Ago
Set
Out
Nov
Dez
-5.0
GRÁFICO 3. VARIAÇÃO HOMÓLOGA
2002
30.0
2003
2004
25.0
20.0
15.0
10.0
5.0
0.0
Jan
Fev
Mar
Abr
Mai
Jun
Jul
(Maputo,Junho) - 4/5
Ago
Set
Out
Nov
Dez
Preços médios mensais de produtos seleccionados, 1000,00 Mt (Contos)
Ordem Nome do produto
1 Arroz corrente
2 Milho branco
3 Farinha de milho branco
4 Farinha de trigo normal
5 Pão
6 Carne de vaca de 2ª limpa
7 Frango vivo
8 Salsicha em lata
9 Carapau congelado de 2ª
10 Camarão seco
11 Conserva de peixe em lata
12 Leite fresco
13 Leite em pó
14 Leite condensado
15 Cerelac
16 Manteiga
17 Ovos de galinha
18 Óleo alimentar
19 Margarina flôr
20 Alface
21 Cebola
22 Cenoura
23 Couve
24 Repolho
25 Tomate
26 Laranja
27 Banana
28 Coco
29 Feijão manteiga
30 Feijão nhemba
31 Amendoim
32 Batata
33 Batata-doce
34 Mandioca fresca
35 Farinha de mandioca
36 Açúcar amarelo
37 Açucar branco
38 Jam de ananás (mermelada)
39 Chá
40 Sal grosso
41 Vinagre
42 Alho
43 Po de caril
44 Caldo de galinha
45 Caldo de vaca
46 Refresco em garrafa
47 Sumo
48 Cerveja garrafa
49 Cigarros - Palmar
50 Capulana
51 Lenço de cabeça
52 Fraldas
U. Medida
Kg
Kg
Kg
Kg
200 gr
Kg
Unidade
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Dúzia
Litro
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Unidade
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Kg
Litro
Kg
Kg
Kg
Kg
Litro
Litro
Litro
Maço
Unidade
Unidae
Unidade
Jan.04
9.3
6.3
14.8
12.7
2.8
96.8
62.6
90.4
26.9
164.9
76.6
28.8
188.5
51.5
44.3
140.2
38.3
38.4
53.9
14.6
18.8
27.6
11.3
11.7
16.2
21.7
9.7
4.5
27.9
14.7
29.9
18.1
7.1
8.9
7.7
14.3
18.3
49.3
241.5
5.8
13.0
44.1
204.8
149.7
138.9
20.0
32.7
37.7
14.0
52.7
14.8
20.5
Fev.04
9.3
6.4
14.8
12.7
2.8
97.7
60.3
90.1
26.6
176.6
76.9
29.3
190.3
51.7
46.6
141.5
36.2
39.0
54.6
16.1
18.0
29.7
13.6
11.7
16.6
20.1
10.0
4.9
28.3
14.3
31.0
17.6
7.1
8.9
8.3
14.4
18.1
49.6
241.1
5.9
12.9
45.6
205.3
152.3
138.9
20.2
33.2
37.6
14.2
52.7
14.8
20.5
Mar.04
9.4
7.0
15.2
12.1
2.8
98.5
59.7
88.6
26.3
176.6
79.0
29.4
193.4
51.9
46.6
141.7
35.2
39.2
54.6
15.2
18.2
29.9
14.5
11.9
16.5
17.3
10.0
5.0
28.6
14.4
31.2
18.2
7.5
9.3
7.9
14.6
18.3
49.2
243.4
5.9
12.9
45.6
204.8
159.2
144.2
20.1
33.3
37.6
14.2
52.7
14.8
20.5
Abr.04
9.5
7.0
15.7
12.2
3.0
100.4
60.2
88.3
26.7
176.6
80.5
29.9
196.3
52.2
46.6
141.6
35.6
39.7
54.8
16.3
17.9
34.7
14.9
13.0
17.9
15.3
10.2
5.0
28.9
14.4
32.6
17.0
7.5
9.7
7.9
15.0
18.8
49.3
241.7
6.0
12.7
45.6
208.9
160.9
144.2
20.2
34.1
37.6
14.2
52.7
14.8
20.5
Mai.04
9.5
7.0
15.9
12.5
3.0
100.4
60.4
87.7
26.4
176.1
80.6
30.3
196.0
52.5
46.4
141.4
34.8
39.5
54.7
16.7
18.7
35.2
14.6
12.5
17.9
14.9
10.3
4.7
28.7
13.9
33.0
16.5
7.5
9.7
8.0
15.6
19.1
49.3
241.2
5.9
12.7
45.6
205.6
166.1
152.1
20.2
34.5
37.7
13.9
52.7
14.8
20.5
(Maputo, Junho) - 5/5
Jun.04
9.6
6.1
16.0
13.0
3.1
100.9
62.0
87.2
26.2
176.5
80.1
30.4
196.2
52.4
46.3
141.3
34.5
39.7
55.4
15.5
18.6
34.0
13.7
12.6
17.5
12.6
10.2
4.5
28.7
12.7
32.9
16.1
7.5
9.7
7.8
15.5
18.9
49.3
241.2
6.0
12.7
43.6
206.1
167.8
152.1
20.2
34.3
37.7
13.8
53.7
14.8
20.5
Jul.04
Ago.04
Set.04
Out.04
Nov.04
Dez.04
Ordem
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
Nome do produto
Gás
Petróleo
Carvão
Lenha
Detergente em pó
Sabão bingo
Fósforos
Repelentes de insectos
Fenoximetil penicilina
Cloroquina
Paracetamol
Gasolina
Caderno escolar
Lapis de carvão
Esferográficas
Papel higiénico
Pensos higiénicos (modess)
Sanduich de ovo
U. Medida
Botija (11 Kg)
Litro
Lata / 5 L
Montinho
Kg
Kg
10 Unidades
200g
Dose
Dose
Dose
Litro
Unidade
Unidade
Unidade
Unidade
Unidade
Unidade
Jan.04
158.7
8.8
10.9
9.3
13.8
70.2
16.9
6.8
42.8
11.5
55.4
10.0
55.7
15.2
2.8
4.4
3.7
4.2
Fev.04
166.1
9.1
11.1
9.1
14.0
72.1
17.0
6.7
43.0
11.5
55.4
10.0
55.7
15.1
2.8
4.5
3.7
4.2
Mar.04
166.3
9.4
11.2
9.8
14.0
72.6
16.9
6.8
42.9
11.5
53.9
10.0
55.7
15.4
2.8
4.5
3.7
4.3
Abr.04
167.4
9.4
11.2
9.8
14.4
73.9
17.0
6.7
42.9
11.5
53.9
10.1
55.7
16.2
2.8
4.5
3.7
4.3
Mai.04
169.4
9.6
12.2
9.8
14.4
74.0
16.9
6.9
42.9
11.5
53.9
10.1
55.7
17.4
2.8
4.5
3.7
4.3
(Maputo, Junho) - 5/5
Jun.04
169.4
10.1
13.7
9.8
14.5
74.4
16.9
7.0
42.5
11.5
53.9
10.1
55.7
18.0
2.8
4.5
3.7
4.3
Jul.04
Ago.04
Set.04
Out.04
Nov.04
Dez.04
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Presentation by IMF Resident Representative in Mozambique for the