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
Economy of Mozambique of 90 percent of the ethnic Portuguese citizens during and after the independence process which was concluded on June 25, 1975. Portuguese population's rapid exodus left the Mozambican economy in disarray. The situation was exacerbated by the Mozambican Civil War (1977–1992) during the following years that destroyed the remaining wealth and left the former Portuguese Overseas Province in a state of absolute disrepair. Mozambique became an independent state in 1975. The exodus of trained Portuguese and the eruption of the Mozambican Civil War in 1977 opposing RENAMO to FRELIMO, drove the country to absolute chaos. Mozambique became an independent nation