Downgrade to End-08 Growth Forecast

Despite picking up from 3.2% y-o-y in Q108 to 5.3% y-o-y in Q208, our year-end forecast of 6.3% for Mozambique now looks slightly optimistic. As such, we are revising down our 2008 estimate to 5.3% and for 2009 from 7.0% to 6.3%.

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