Compare Mozambique (2008) - Mozambique (2007)

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	Mozambique (2008)	Mozambique (2007)

Background	Almost five centuries as a Portuguese colony came to a close with independence in 1975. Large-scale emigration by whites, economic dependence on South Africa, a severe drought, and a prolonged civil war hindered the country's development until the mid 1990's. 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.	Almost five centuries as a Portuguese colony came to a close with independence in 1975. Large-scale emigration by whites, economic dependence on South Africa, a severe drought, and a prolonged civil war hindered the country's development. 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 newly elected successor, Armando Emilio GUEBUZA, has promised to continue the sound economic policies that have encouraged foreign investment.
Budget	revenues: $2.163 billion expenditures: $2.623 billion (2007 est.)	revenues: $1.834 billion expenditures: $1.98 billion (2006 est.)
Debt - external	$4.284 billion (31 December 2007 est.)	$3.527 billion (2006 est.)
Diplomatic representation from the US	chief of mission: Ambassador (vacant); Charge d'Affaires Todd C. CHAPMAN embassy: Avenida Kenneth Kuanda 193, Maputo mailing address: P. O. Box 783, Maputo telephone: [258] (21) 492797 FAX: [258] (21) 490448	chief of mission: Ambassador (vacant); Charge d'Affaires James DUDLEY embassy: Avenida Kenneth Kuanda 193, Maputo mailing address: P. O. Box 783, Maputo telephone: [258] (1) 492797 FAX: [258] (1) 490448
Diplomatic representation in the US	chief of mission: Ambassador Marcos Geraldo NAMASHULUA chancery: 1525 New Hampshire Avenue, Washington, DC 20036 telephone: [1] (202) 293-7146 FAX: [1] (202) 835-0245	chief of mission: Ambassador Armando PANGUENE chancery: 1990 M Street NW, Suite 570, Washington, DC 20036 telephone: [1] (202) 293-7146 FAX: [1] (202) 835-0245
Economy - overview	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.	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 although it returned to double digits in 2000-06. 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. In late 2005, and after years of negotiations, the government signed an agreement to gain 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.
Exchange rates	meticais per US dollar - 26.264 (2007), 25.4 (2006), 23,061 (2005), 22,581 (2004), 23,782 (2003) note: in 2006 Mozambique revalued its currency, with 1000 old meticais equal to 1 new meticais	meticais per US dollar - 25.4 (2006), 23,061 (2005), 22,581 (2004), 23,782 (2003), 23,678 (2002) note: in 2006 Mozambique revalued its currency, with 1000 old meticais equal to 1 new meticais
Exports	0 bbl/day (2004)	NA bbl/day
GDP - composition by sector	agriculture: 23.1% industry: 30.2% services: 46.7% (2007 est.)	agriculture: 22.8% industry: 29.5% services: 47.7% (2006 est.)
GDP - real growth rate	7.5% (2007 est.)	7.9% (2006 est.)
Imports	13,320 bbl/day (2004)	NA bbl/day
Industrial production growth rate	10% (2007 est.)	3.4% (2000)
Inflation rate (consumer prices)	8% (2007 est.)	13.2% (2006 est.)
International organization participation	ACP, AfDB, AU, C, CPLP, FAO, G-77, IAEA, IBRD, ICAO, ICCt (signatory), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO (correspondent), ITSO, ITU, ITUC, MIGA, NAM, OIC, OIF (observer), OPCW, SADC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNMIS, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO	ACP, AfDB, AU, C, CPLP, FAO, G-77, IAEA, IBRD, ICAO, ICCt (signatory), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO (correspondent), ITSO, ITU, ITUC, MIGA, MONUC, NAM, OIC, OIF (observer), OPCW, SADC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNMIS, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	9.6 million (2007 est.)	9.4 million (2006 est.)
Pipelines	gas 964 km; refined products 278 km (2007)	gas 918 km; refined products 294 km (2006)
Telephone system	general assessment: fair system with an extremely low density of less than 1 fixed line per 100 persons domestic: the telecommunications sector is shackled with a heavy state presence, lack of competition, and high operating costs and charges; stagnation in the fixed-line network contrasts with rapid growth in the mobile-cellular network; mobile-cellular coverage now includes all the main cities and key roads, including those from Maputo to the South African and Swaziland borders, the national highway through Gaza and Inhambane provinces, the Beira corridor, and from Nampula to Nacala international: country code - 258; satellite earth stations - 5 Intelsat (2 Atlantic Ocean and 3 Indian Ocean)	general assessment: fair system but not available generally (extremely low density with less than 1 main line per 100 persons) domestic: the system consists of open-wire lines and trunk connection by microwave radio relay and tropospheric scatter international: country code - 258; satellite earth stations - 5 Intelsat (2 Atlantic Ocean and 3 Indian Ocean)

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