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
Portuguese Mozambique population's rapid exodus left the Mozambican economy in disarray. In addition, after the independence day on 25 June 1975, the eruption of the Mozambican Civil War (1977–92) destroyed the remaining wealth and left the former Portuguese Overseas Province in a state of absolute disrepair. Herrick, Allison and others (1969). "Area Handbook for Mozambique", US Government Printing Office. Portuguese Mozambique Portuguese Mozambique () or Portuguese East Africa ("África Oriental Portuguesa") are the common terms by which Mozambique is designated when referring to the historic period when it was a Portuguese overseas territory. Portuguese Mozambique constituted a string of Portuguese colonies and