Mozambique Reverses Central Bank Chief Pick, Names Navalha Governor

Mozambique's President Daniel Chapo has reversed a decision made just a day earlier on the leadership of the country's central bank. In a statement on Tuesday, the presidency withdrew the appointment of Waldemar Fernando de Sousa as governor and instead named economist Felisberto Dinis Navalha to the top post.

The reshuffle also affects the deputy governor position. Benedita Manuel Guimino has been appointed as deputy governor, replacing Navalha, who had been named to that role in Monday's announcement. The presidency offered no explanation for the sudden change and did not immediately respond to requests for comment.

Navalha is scheduled to be sworn in on Wednesday, while a date for Guimino's swearing-in ceremony has yet to be announced. He succeeds Rogerio Zandamela, whose second and final five-year term as governor ended on Monday.

The leadership transition comes at a difficult time for Mozambique's economy. The country is contending with rising inflation and persistent debt challenges, which trace back to a 2016 hidden-debt scandal that severely damaged investor confidence and restricted access to international funding.