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Mozambique Flag

Mozambique Flag
Flag of Mozambique
Mozambique flags for displaying indoors or out.
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Mozambique

Mozambique Background

Almost five centuries as a Portuguese colony came to a close with independence in 1975. Large-scale emigration by whites, economic dependence on South Africa, a severe drought, and a prolonged civil war hindered the country's development. The ruling party formally abandoned Marxism in 1989, and a new constitution the following year provided for multiparty elections and a free market economy. A UN-negotiated peace agreement with rebel forces ended the fighting in 1992. Heavy flooding in both 1999 and 2000 severely hurt the economy. Political stability and sound economic policies have encouraged recent foreign investment.

Mozambique Economy

At independence in 1975, Mozambique was one of the world's poorest countries. Socialist mismanagement and a brutal civil war from 1977-92 exacerbated the situation. In 1987, the government embarked on a series of macroeconomic reforms designed to stabilize the economy. These steps, combined with donor assistance and with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate. Inflation was brought to single digits during the late 1990s although it returned to double digits in 2000-02. Fiscal reforms, including the introduction of a value-added tax and reform of the customs service, have improved the government's revenue collection abilities. In spite of these gains, Mozambique remains dependent upon foreign assistance for much of its annual budget, and the majority of the population remains below the poverty line. Subsistence agriculture continues to employ the vast majority of the country's workforce. A substantial trade imbalance persists although the opening of the MOZAL aluminum smelter, the country's largest foreign investment project to date has increased export earnings. Additional investment projects in titanium extraction and processing and garment manufacturing should further close the import/export gap. Mozambique's once substantial foreign debt has been reduced through forgiveness and rescheduling under the IMF's Heavily Indebted Poor Countries (HIPC) and Enhanced HIPC initiatives, and is now at a manageable level.

Mozambique Location

South-eastern Africa, bordering the Mozambique Channel, between South Africa and Tanzania

Mozambique Flag

three equal horizontal bands of green (top), black, and yellow with a red isosceles triangle based on the hoist side; the black band is edged in white; centered in the triangle is a yellow five-pointed star bearing a crossed rifle and hoe in black superimposed on an open white book


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