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Mozambique’s Foreign Investment Slumps by 35% in First Quarter

  • Falling investment adds pressure on already weak currency
  • Nation cutting 27 billion metical of spending this year

Foreign investment flows into Mozambique fell 35 percent in the first quarter, putting pressure on the nation’s balance of payments and exchange rate, Finance Minister Adriano Maleaine said.

Investors brought in $650 million in the first three months compared with $1 billion a year ago, Maleiane told members of the ruling Mozambique Liberation Front, or Frelimo, on Wednesday in the capital, Maputo.