Browsing: Economy

Economy EMATUM's fishing boats rusting in Maputo harbour. Photo © Timothy Haccius / Zitamar News
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The latest proposal to restructure Mozambique’s $727 million eurobond will face strong resistance from the Mozambican government which has previously told creditors it is unwilling to given them a cut of gas revenues, Zitamar News has learned. A group of [...]

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Economy Maputo's downtown financial district. Photo © Tom Bowker / Zitamar News
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The Mozambique government raised more than MZN 900 million (roughly $15.5m) at a Treasury bond auction on Tuesday, exceeding its MZN 700m target after it cancelled the last auction in June due to a lack of demand. NOTE: The Mozambique stock exchange, the BVM, having initially said that the [...]

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Economy EU Ambassador Sven Keuhn Von Burgsdorff lands a parachute with an EU flag in Maputo, 2016. Photo: EU Delegation in Mozambique Facebook page
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The European Union last week agreed to redirect around €290 million ($339m) in aid for Mozambique, that it froze in 2016 in the wake of revelations of $2 billion in government-guaranteed debts, towards projects in specific sectors in [...]

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Economy Mozambique's Ministry of Finance, Maputo © Tom Bowker / Zitamar News
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Mozambican banks are increasingly unwilling to lend money to the state to help cover its budget deficit, which could lead to a renewed public spending crisis in the runup to elections and threatens the Bank of Mozambique’s efforts to combat inflation and [...]

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Economy Finance minister Adriano Maleiane presenting the 2018 budget to parliament, 11 December 2017.
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The holders of Mozambique’s international commercial debt, on which the country continues to default, have until August to agree a restructure of the debt if they want Mozambique to make any payments to them in 2019.

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