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

_Technical Assistance Reports, November 12, 2025_

## Source details

**Canonical URL:** [Republic of Mozambique: Technical Assistance Report-Walk Through of MPC Process Using Core-QPM](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)

## Other formats

- [Markdown version](/en/publications/technical-assistance-reports/issues/2025/11/12/republic-of-mozambique-technical-assistance-report-walk-through-of-mpc-process-using-core-571733/index.md)
- [Structured JSON version](/en/publications/technical-assistance-reports/issues/2025/11/12/republic-of-mozambique-technical-assistance-report-walk-through-of-mpc-process-using-core-571733/index.json)
- [Bundle manifest](/en/publications/technical-assistance-reports/issues/2025/11/12/republic-of-mozambique-technical-assistance-report-walk-through-of-mpc-process-using-core-571733/bundle-manifest.json)

## 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)](/-/media/files/publications/tar/2025/english/tarea2025094-source-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Preface (PDF)](/-/media/files/publications/tar/2025/english/tarea2025094-source-pdf.pdf){rel="external" type="application/pdf"}

---

_Source: 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_