Banco de Moçambique cuts annual overseas card payments to 6 million meticais (US$94,000) per holder, tightening FX controls amid debt distress and.
Africa · Southern
Key Facts
—New annual cap. Banco de Moçambique set a 6 million metical (US$94,000) yearly limit on overseas card payments per holder.
—Hard enforcement. Banks must block cards once the limit is reached and notify clients at the halfway mark.
—FX scarcity. The move aims to defend dwindling foreign-exchange reserves amid acute dollar shortages.
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