Bank of Mozambique created Government of Mozambique took over, without compensation, the Mozambican operations of Banco Nacional Ultramarino, a Portuguese colonial bank that had been acting as the bank of issue for the colony. This became the nucleus of Bank of Mozambique. In 1977 the government also nationalized almost all banks in the country, including the Casa Bancária de Moçambique, and the Mozambican operations of Banco de Crédito, Comercial e Industrial and Banco Comercial de Angola, and merged them into Bank of Mozambique. At the same time it closed the operations of Banco de Fomento Nacional and Banco Pinto e Sotto Mayor. (The
Foreign relations of Brazil also committed to cooperation with other Portuguese-speaking nations through joint-collaborations with the rest of the Portuguese-speaking world, in several domains which include military cooperation, financial aid, and cultural exchange. This is done in the framework of CPLP, for instance. Lula da Silva recently visited to Africa included State visits to three Portuguese-speaking African nations (Angola, São Tomé and Príncipe, and Mozambique). Finally, Brazil is also strongly committed in the development and restoration of peace in East Timor, where it has a very powerful influence. Brazil's political, business, and military ventures are complemented by the country's trade policy. In Brazil, the