The head of Mozambique’s Bar Association says the Association will do everything it can to have the debts ruled illegal or ‘odious’
IMF ‘encourages’ transparency over ‘hidden debts’, and says restructures must be consistent with achieving debt sustainability, poverty reduction, and sustainable development Mozambique will not offer a share of gas revenues to the holders of government-guaranteed syndicated debts [...]
Mozambique is currently in negotiations with the International Monetary Fund for an unfunded staff-monitored programme (SMP) to start at the beginning of 2019, which could lead to the financial support restarting later that year.
Mozambique’s total repayment for the $850 million borrowed by tuna fishing company EMATUM could top $2.4 billion, under a new restructure proposal revealed by the government this week. Annual payments would be between $36-40 million for the first five years - and would remain below $60m [...]
A staff mission from the International Monetary Fund (IMF) arrived in Mozambique yesterday for a two-week visit to lay the groundwork for a new supervisory programme, which could lead to a funded programme further down the line.