{
  "title": "Republic of Mozambique: Technical Assistance Report-Walk Through of MPC Process Using Core-QPM",
  "publication": "Technical Assistance Reports, November 12, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/11/12/republic-of-mozambique-technical-assistance-report-walk-through-of-mpc-process-using-core-571733",
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  "summary": "The Technical Assistance (TA) mission, from March 31–April 11, 2025, assisted 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 purposes.",
  "sections": [
    {
      "heading": "Mission objectives and scope",
      "content": "- Technical Assistance (TA) mission dates: March 31–April 11, 2025.\n- 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.\n- Specific aims:\n  - Make adjustments to the model and model output to prepare core-QPM for practical use in the policy process.\n  - Build competence and autonomy on the use, maintenance, and further development of core-QPM for forecasting and policy analysis in the policy process."
    },
    {
      "heading": "Key findings and outcomes",
      "content": "- Adjustments to the model and model output were undertaken to ready core-QPM for practical policy use.\n- Capacity-building emphasis achieved competence and autonomy goals related to:\n  - Use of core-QPM in forecasting and policy analysis.\n  - Maintenance and further development of core-QPM and satellite models.\n- 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:\n  - Seamless implementation of efficient FPAS.\n  - Further progress in enhancing analytical capabilities using core-QPM and satellite models."
    },
    {
      "heading": "Thematic coverage (subjects and keywords)",
      "content": "- Subjects:\n  - Central bank policy rate\n  - Exchange rates\n  - Financial services\n  - Foreign exchange\n  - Output gap\n  - Production\n  - Real exchange rates\n  - Real interest rates\n- Keywords:\n  - Bank of Mozambique.\n  - Central bank policy rate\n  - conditional forecasting\n  - core macro model\n  - core-QPM model\n  - enhance staff autonomy\n  - Exchange rates\n  - Forecasting and Policy Analysis System\n  - FPAS\n  - IMF publication\n  - Monetary and Capital Markets Department\n  - monetary policy process\n  - Mozambique\n  - Output gap\n  - policy analysis\n  - policy process\n  - QPM (core-QPM)\n  - Real exchange rates\n  - Real interest rates\n  - scenario analysis and reporting\n  - technical assistance provider\n\n---\n\n Content in this bundle\n\n- Preface\n  - Preface (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Preface (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/11/12/republic-of-mozambique-technical-assistance-report-walk-through-of-mpc-process-using-core-571733"
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    "Published: November 12, 2025",
    "Series: Technical Assistance Reports",
    "DOI: https://doi.org/10.5089/9798229027656.019",
    "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:",
    "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:",
    "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:",
    "Subjects:",
    "Keywords:",
    "**Preface**"
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