Browsing: Economy

Economy Prime Minister Carlos Agostinho do Rosario and Finance Minister Adriano Maleiane in parliament on 3 May 2017.
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Mozambique should only pay sovereign bondholders $369 million of a potential $500m gas-linked bonus, the country’s finance minister told parliament last week - but his calculations only make sense if ExxonMobil’s planned LNG project does not go [...]

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Economy Finance minister Adriano Maleiane presenting the 2018 budget to parliament, 11 December 2017.
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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 [...]

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Economy EMATUM's fleet in Maputo harbour, March 2018. Photo © Tom Bowker / Zitamar News
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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.

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Economy Chart by Sauti. Estimates by Zitamar
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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 [...]

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Economy EMATUM's fishing boats rusting in Maputo harbour. Photo © Timothy Haccius / Zitamar News
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Mozambique has reached a restructure agreement for its $726.5m sovereign bond with a group of creditors, offering to repay all of the principal, most of the interest, and give a gas-linked bonus of up to $500 million. Agreement has already been [...]

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