This Friday morning (14), the Governor of the Banco de Moçambique delivered the opening speech at the institution’s XV Scientific Seminar at Joaquim Chissano Conference Center.

In his speech, Rogério Zandamela highlighted that this year’s edition is particularly prominent, since it’s part of a set of select events to celebrate the golden jubilee of the Banco de Moçambique, noting that the main event is set to take place on May 17, 2025.  

Regarding this edition’s theme, namely “Interaction between Monetary and Fiscal Policies”, Rogério Zandamela underscored that it arose from the understanding that optimal coordination between the two policies is key to ensuring macroeconomic stability and safeguard greater efficiency and effectiveness in the pursuit of the goals of  each policy. 

Moreover, the Governor stressed the importance of more coordinated action between the two policies, since if one of them neglects the effects it can generate on the other, it can create macroeconomic imbalances.

It is for this reason that, as stated by Rogério Zandamela, the central bank has been working in close coordination with the Ministry of Economy and Finance, which has contributed to fiscal consolidation and strengthening resilience, against the backdrop of an an economic environment vulnerable to multiple shocks and risks.

Wrapping up, Rogério Zandamela said he hoped that the event would promote an open and deep debate, which would provide for the exchange of experiences for the development of mechanisms that provide for effective interaction between monetary and fiscal policies.

For his part, the event’s keynote speaker, Jean-Claude Kassi Brou, Governor of the Central Bank of West African Countries, substantiated Governor Zandamela's intervention, noting that the fact that the two policies operate on different timeframes, requires greater coordination, as inefficient interaction can result in vulnerabilities and macroeconomic instability.

Jean-Claude Kassi Brou praised Governor Zandamela for managing to keep the main macroeconomic indicators at very good levels, despite the hardships faced by the country.

For this edition, the jury selected three research papers, namely “Analysis of the Interaction between Monetary and Fiscal Policies: An Approach Based on Game Theory”, co-authored by Roque Magaia and Edurencio Vuco; “Fiscal Dominance and Its Impact on Monetary Policy: An Approach to the Mozambican Economy (2017-2023)” by Euclides Matlombe and Salvado Raisse, and “Econophysical Modeling of the Interaction between Mozambican Monetary and Fiscal Policies: Entropic Bottlenecks to Effective and ­Sustainable Opportunities (Optimal Combination Options)”, by Quisito Januário.

Speaking at the end of the event, the Board Member for Monetary Stability at the Banco de Moçambique, Jamal Omar, thanked everyone for their presence, and addressed a word of appreciation to the authors, examiners, and members of the jury who, in their roles, contributed to the productive debate and valuable recommendations on the theme. 

Moreover, for the next Scientific Seminar of the Banco de Moçambique set to be held in 2025, Jamal Omar announced  the theme “Liberalization of the Capital Account in Mozambique and Macroeconomic Management Challenges”.

In attendance at the were the Deputy Minister of Economy and Finance, Amílcar Tivane, Board Members of the Bank, representatives of public institutions, academic and research centers, credit institutions and financial companies, managers and staff members of the Bank.