Mozambique member of Southern African Development Community
Mozambique is a member of the Non-Aligned Movement and ranks among the moderate members of the African bloc in the United Nations and other international organisations. Mozambique also belongs to the African Union and the Southern African Development Community. In 1994, the government became a full member of the Organisation of the Islamic Conference, in part to broaden its base of international support but also to please the country's sizeable Muslim population. Similarly, in 1995 Mozambique joined its Anglophone neighbours in the Commonwealth of Nations. At the time it was the only nation to have joined the Commonwealth that was never part of the British Empire. In the same year, Mozambique became a founding member and the first President of the Community of Portuguese Language Countries and maintains close ties with other Portuguese-speaking countries.Economy
Mozambique is one of the poorest and most underdeveloped countries in the world, even though between 1994 and 2006 its average annual GDP growth was approximately 8%. The IMF classifies Mozambique as a heavily indebted poor country. In a 2006 survey, three-quarters of Mozambicans said that in the past five years their economic position had remained the same or become worse.Mozambique's official currency is the metical (as of December 2022, US$1 is roughly equivalent to 64 meticals) The U.S. dollar, South African rand, and the euro are widely accepted and used in business transactions. The minimum legal salary is around US$60 per month. Mozambique is a member of the Southern African Development Community (SADC). The SADC free trade protocol is aimed at making the Southern African region more competitive by eliminating tariffs and other trade barriers. The World Bank in 2007 talked of Mozambique's 'blistering pace of economic growth'. A joint donor-government study in early 2007 said 'Mozambique is generally considered an aid success story.'
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