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The metical (/ ˈ m ɛ t ɪ ˌ k æ l /; [2] plural: meticais) is the currency of Mozambique, abbreviated with the symbol MZN or MT.It is nominally divided into 100 centavos. The name metical comes from Arabic مثقال (), [3] a unit of weight and an alternative name for the gold dinar coin that was used throughout much of Africa until the 19th century.
In 1995 alone, Mozambique received $1.115 billion in aid. In 1999, the total external debt stood at $4.8 billion. Fortunately, in the same year significant economic recovery did occur, as the real GDP growth rate reached 10 percent. Today, the economy of Mozambique continues to be dominated by agriculture.
Mozambique's official currency is the metical (as of October 2023, US$1 is roughly equivalent to 64 meticals) The U.S. dollar, South African rand, and the euro are widely accepted and used in business transactions. The minimum legal salary is around US$60 per month. Mozambique is a member of the Southern African Development Community (SADC). [19]
The “ tuna bond ” scandal that shook Mozambique's economy is washing into a U.S. court, where a former Mozambican finance minister is being tried on charges that he took bribes to commit his ...
The metica (plural meticas) was a proposed currency for Mozambique. It was divided into 100 centimos. Coins were produced dated 1975 and banknotes dated 1976. However, these were not put into circulation and the escudo continued to circulate until 1980, when the metical was introduced. [citation needed] Africa portal; Money portal; Numismatics ...
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The Mozambique National Institute of Meteorology (Portuguese: Instituto Nacional de Meteorologia de Moçambique) is the national meteorological organization of Mozambique. It is responsible for monitoring weather in the country and for providing warning of imminent tropical storms or meteorological changes that could potentially threaten the ...
The Bank of Mozambique (Portuguese name: Banco de Moçambique) is the central bank of Mozambique. It does not provide consumer services to general public as a commercial bank. The main responsibility of the bank is governing the monetary policy of the nation and ensuring a safe and stable financial system within Mozambique [ 3 ] The Bank of ...