Regulatory Alerts1997-12-01
Added · Updated
Notice No. 10/GGBM/97 of July 21 - Determination of Interest Rates under Article 53 of Law No. 28/91
The Bank of Mozambique sets the Central Bank Annual Reference Rate at 19% for refinancing operations with financial institutions, specifically covering special credit lines for small and medium-sized enterprises, industrial rehabilitation, and agricultural marketing. This rate regime applies to existing operations if their contracts allow for alteration upon legal fixation of a new limit. The notice was issued in Maputo on July 21, 1997.
BANK OF MOZAMBIQUE
NOTICE NO. 10/GGBM/97
Pursuant to the provisions of Article 53 of Law No. 28/91 of December 31, regarding interest rates, I determine:
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Central Bank Annual Reference Rate: 19% • Scope: Central Bank refinancing operations with financial institutions, specifically regarding special credit lines for the promotion of small and medium-sized enterprises, rehabilitation of industrial companies, and agricultural marketing.
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The interest rate regime hereby established may apply to operations in force on the date of entry into force of this NOTICE, when the respective contract provides for its alteration in the event of legal fixation of another limit.
Publish Maputo, on July 21, 1997