Mozambique's President Daniel Chapo appointed economist Felisberto Dinis Navalha as governor of the Bank of Mozambique on Tuesday, reversing an appointment announced just a day earlier.

In a statement, the presidency withdrew Monday's appointment of Waldemar Fernando de Sousa as governor and Navalha as deputy governor and instead appointed Navalha as governor and Benedita Manuel Guimino as deputy governor.

The presidency did not provide further details and did not immediately respond to a Reuters request for comment.

Navalha succeeds Rogerio Zandamela, whose second and final five-year term as governor ended on Monday.

Navalha is due to be sworn in on Wednesday, while a date for Guimino's swearing-in will be announced later.

The leadership change comes as Mozambique grapples with rising inflation and persistent debt challenges.

Mozambique's debt problems date back to a 2016 hidden-debt scandal that shattered investor confidence and curtailed access to funding.