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 lmost
five centuries as a Portuguese colony came to a close with independence
in 1975. Large-scale emigration by whites, economic dependence on South
Africa, a severe drought, and a prolonged civil war hindered the country¡¯s
development.
he
ruling Front for the Liberation of Mozambique (FRELIMO) party formally
abandoned Marxism in 1989, and a new constitution the following year provided
for multiparty elections and a free market economy. A UN-negotiated peace
agreement between FRELIMO and rebel Mozambique National Resistance (RENAMO)
forces ended the fighting in 1992.
n
December 2004, Mozambique underwent a delicate transition as Joaquim CHISSANO
stepped down after 18 years in office. His newly elected successor, Armando
Emilio GUEBUZA, has promised to continue the sound economic policies that
have encouraged foreign investment.
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