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
Food security in Mozambique non-existent. Mozambique suffers from multiple plagues. The most devastating by far for agriculture is the red locust, which is endemic in the Pungwe basin. Mozambique is particularly vulnerable to natural disasters such as droughts and floods, with a total of 15 over the last 25 years. These events greatly damaged the rural sector and the country’s overall economy. For example, the floods of 2000 affected some 2 million people, while the droughts of 1994 and 1996 affected 1.5 million people in the southern and central parts of the country. Cyclones in Mozambique occur during the cropping season, from October to