Difference between revisions of "Mozambique"

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The ruling Front for the Liberation of Mozambique (FRELIMO) party formally abandoned Marxism in 1989, and a new constitution the following year provided for multiparty elections and a free market economy. A UN-negotiated peace agreement between FRELIMO and rebel Mozambique National Resistance (RENAMO) forces ended the fighting in 1992. In December 2004, Mozambique underwent a delicate transition as Joaquim Chissano stepped down after 18 years in office. His elected successor, Armando Emilio Guebuza, promised to continue the sound economic policies that have encouraged foreign investment. Mozambique has seen very strong economic growth since the end of the civil war largely due to post-conflict reconstruction.  
 
The ruling Front for the Liberation of Mozambique (FRELIMO) party formally abandoned Marxism in 1989, and a new constitution the following year provided for multiparty elections and a free market economy. A UN-negotiated peace agreement between FRELIMO and rebel Mozambique National Resistance (RENAMO) forces ended the fighting in 1992. In December 2004, Mozambique underwent a delicate transition as Joaquim Chissano stepped down after 18 years in office. His elected successor, Armando Emilio Guebuza, promised to continue the sound economic policies that have encouraged foreign investment. Mozambique has seen very strong economic growth since the end of the civil war largely due to post-conflict reconstruction.  
  
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==Economy==
 
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At independence in 1975, Mozambique was one of the world's poorest countries. Socialist mismanagement and a brutal civil war from 1977-92 exacerbated the situation. In 1987, the government embarked on a series of macroeconomic reforms designed to stabilize the economy. These steps, combined with donor assistance and with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate. Inflation was reduced to single digits during the late 1990s, and although it returned to double digits in 2000-06, in 2007 inflation had slowed to 8%, while GDP growth reached 7.5%. Fiscal reforms, including the introduction of a value-added tax and reform of the customs service, have improved the government's revenue collection abilities. In spite of these gains, Mozambique remains dependent upon foreign assistance for much of its annual budget, and the majority of the population remains below the poverty line. Subsistence agriculture continues to employ the vast majority of the country's work force. A substantial trade imbalance persists although the opening of the Mozal aluminum smelter, the country's largest foreign investment project to date, has increased export earnings. At the end of 2007, and after years of negotiations, the government took over Portugal's majority share of the Cahora Bassa Hydroelectricity (HCB) company, a dam that was not transferred to Mozambique at independence because of the ensuing civil war and unpaid debts. More power is needed for additional investment projects in titanium extraction and processing and garment manufacturing that could further close the import/export gap. Mozambique's once substantial foreign debt has been reduced through forgiveness and rescheduling under the IMF's Heavily Indebted Poor Countries (HIPC) and Enhanced HIPC initiatives, and is now at a manageable level. In July 2007 the Millennium Challenge Corporation (MCC) signed a Compact with Mozambique; the Mozambican government moved rapidly to ratify the Compact and propose a plan for funding.
 
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==Transnational Issues==
 
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===Human Trafficking===
 
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Mozambique is a source and, to a much lesser extent, a destination country for men, women, and children trafficked for the purposes of forced labor and sexual exploitation; the use of forced and bonded child laborers is a common practice in Mozambique's rural areas; women and girls are trafficked from rural to urban areas of Mozambique, as well as to South Africa, for domestic servitude and commercial sexual exploitation; young men and boys are trafficked to South Africa for farm work and mining.
 
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===Illicit Drugs===
 
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Southern African transit point for South Asian hashish and heroin, and South American cocaine probably destined for the European and South African markets; producer of cannabis (for local consumption) and methaqualone (for export to South Africa); corruption and poor regulatory capability makes the banking system vulnerable to money laundering, but the lack of a well-developed financial infrastructure limits the country's utility as a money-laundering center
 
  
 
==References==
 
==References==

Revision as of 07:47, December 28, 2008

Mozambique
Mozmap.jpg
Mozflag.jpg
Flag
Capital Maputo
Government Parliamentary democracy
Language Portuguese (official), also Emakhuwa and Xichangana (official)
President Armando Guebuza
Prime minister Luisa Diogo
Area 801,590 sq. km
Population July 2008 est. 21,284,700
GDP 2007 est. $7.559 billion
GDP per capita $800
Currency Metical


Mozambique is a country on the south-eastern coast of Africa, bordering the Mozambique Channel, located between South Africa and Tanzania. A Portuguese colony until independence in 1975, the subsequent mass-immigration of settlers, economic dependence on South Africa, a severe drought, and a prolonged civil war hindered the country's development until the mid 1990s.

The ruling Front for the Liberation of Mozambique (FRELIMO) party formally abandoned Marxism in 1989, and a new constitution the following year provided for multiparty elections and a free market economy. A UN-negotiated peace agreement between FRELIMO and rebel Mozambique National Resistance (RENAMO) forces ended the fighting in 1992. In December 2004, Mozambique underwent a delicate transition as Joaquim Chissano stepped down after 18 years in office. His elected successor, Armando Emilio Guebuza, promised to continue the sound economic policies that have encouraged foreign investment. Mozambique has seen very strong economic growth since the end of the civil war largely due to post-conflict reconstruction.


References

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