Mozambican metical Mozambican metical The metical (plural: "meticais") is the currency of Mozambique, abbreviated with the symbol "MZN" or "MT". It is nominally divided into 100 centavos. The name "metical" comes from Arabic ("mithqāl"), a unit of weight and an alternative name for the gold dinar coin that was used throughout much of Africa until the 19th century. The metical (MZM) replaced the "escudo" at par on 16 June 1980. It was divided into 100 "centavos". The metical underwent severe inflation. After the revaluation of the Romanian leu, the metical briefly became the least valued currency unit, at a value of about
Malawi and the International Monetary Fund order to alleviate the food shortage. Founded by the IMF and the World Bank in 1996, the Heavily Indebted Poor Countries organisation (HIPC) extended debt forgiveness to the world's most indebted nations. Among those 36 countries who met the requirements of this initiative include Malawi, Afghanistan and Haiti. Malawi was the 20th country to be approved as a participant in the initiative, and once approved, Malawi became eligible for further debt relief from the World Banks IDA, the IMF and the African Development Fund (AfDF) under the Multilateral Debt Relief Initiative (MDRI)." Malawi and the International Monetary Fund The International