Republic of Mozambique: Technical Assistance Report-Walk Through of MPC Process Using Core-QPM

Technical Assistance Reports, November 12, 2025

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Republic of Mozambique: Technical Assistance Report-Walk Through of MPC Process Using Core-QPM

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Bibliographic details

• Published: November 12, 2025
• Series: Technical Assistance Reports
• DOI: https://doi.org/10.5089/9798229027656.019

Mission objectives and scope

• Technical Assistance (TA) mission dates: March 31–April 11, 2025.
• Primary objective: assist the Bank of Mozambique’s (MB) authorities in building autonomy in the use of the new version of QPM (core-QPM) for Forecasting and Policy Analysis System (FPAS) purposes.
• Specific aims:
  • Make adjustments to the model and model output to prepare core-QPM for practical use in the policy process.
  • Build competence and autonomy on the use, maintenance, and further development of core-QPM for forecasting and policy analysis in the policy process.

Key findings and outcomes

• Adjustments to the model and model output were undertaken to ready core-QPM for practical policy use.
• Capacity-building emphasis achieved competence and autonomy goals related to:
  • Use of core-QPM in forecasting and policy analysis.
  • Maintenance and further development of core-QPM and satellite models.
• The commitments of stakeholders—Mission Team, the Governor, Vice Governor, management, and staff—to enhance the MB’s FPAS framework were noted as promising for:
  • Seamless implementation of efficient FPAS.
  • Further progress in enhancing analytical capabilities using core-QPM and satellite models.

Thematic coverage (subjects and keywords)

• Subjects:
  • Central bank policy rate
  • Exchange rates
  • Financial services
  • Foreign exchange
  • Output gap
  • Production
  • Real exchange rates
  • Real interest rates
• Keywords:
  • Bank of Mozambique.
  • Central bank policy rate
  • conditional forecasting
  • core macro model
  • core-QPM model
  • enhance staff autonomy
  • Exchange rates
  • Forecasting and Policy Analysis System
  • FPAS
  • IMF publication
  • Monetary and Capital Markets Department
  • monetary policy process
  • Mozambique
  • Output gap
  • policy analysis
  • policy process
  • QPM (core-QPM)
  • Real exchange rates
  • Real interest rates
  • scenario analysis and reporting
  • technical assistance provider

Content in this bundle

• Preface
  • Preface (Markdown version)
  • Preface (PDF)