Economy of Mozambique the second international fibre (EASSy) in 2010. The lower cost of bandwidth has already started to trickle down to lower consumer prices in some service segments, while others have remained unchanged. The banking system collapsed after independence from Portugal in 1975. From an earlier position (in the 1980s) of central government control of the economy, Mozambique has initiated rapid reforms in recent years, accelerating the implementation of market-based economic policies, and committing to a policy of fiscal and monetary discipline. In 1995 the government introduced its medium-term economic growth, strategy which it continues to pursue. Since the late 1990s, both
Brazil–Mozambique relations United Nations Resolution 3117 on the elimination of colonialism in Southern Africa. On 25 June 1975, Mozambique obtained its independence. On 15 November 1975, Brazil recognized and established diplomatic relations with Mozambique. In March 1976, Brazil opened an embassy in the Mozambican capital of Maputo and in January 1998, Mozambique reciprocated the gesture by opening an embassy in Brasília. In 2000, Brazilian President Fernando Henrique Cardoso paid an official visit to Mozambique and attended the 3rd summit of the Community of Portuguese Language Countries being held in the Mozambican capital. In 2001, Mozambican President Joaquim Chissano paid an official visit