Mozambique’s tax authorities are attempting to insert a new clause into the country’s taxation treaty with Mauritius to prevent mining and oil and gas companies from using the African island nation as a way to avoid Mozambican taxes.
Industry players warned IMOPETRO, the company managing Mozambique’s fuel imports, of the dangers of awarding an import tender to unknown company Finergy, which has since failed to honour its import commitments, Zitamar News has learned. Finergy Petroleum, a secretive company [...]
Restructuring documentation seen by Zitamar contains an admission by Mozambique and its advisers that the EMATUM guarantee was never valid
Participating creditors will be required to confirm ‘bona fides’ with respect to ProIndicus, EMATUM and MAM transactions The Mozambique finance ministry today launched its formal call for investors in its dollar-denominated sovereign bond to accept the
Mozambique’s government says it is seeking legal advice on the implications of restructuring a sovereign Eurobond that it sold in 2016 to refinance a loan for tuna fishing and offshore security company EMATUM, after the Constitutional Council ruled the [...]
The Bank of Mozambique (BM) this week took another step toward ‘normalising’ monetary policy in the country, cutting its policy interest rate for the first time this year to bring it down to the top end of a range that IMF economists say would be [...]
Mozambique has reached a new restructure agreement with the holders of the majority its sovereign bond — bringing forward the amortisation date by two years and paying higher interest rates than the two sides agreed last November, but eliminating a [...]
The Mozambique government will refuse to honour the ProIndicus loan, as it was “criminally-obtained” - but is close to restructuring the MAM loan guaranteed under similar circumstances. Details provided in the [...]
The Mozambican government is working to find a solution to pay civil servants’ salaries for April, which were due last week, after failing to borrow MZN 3 billion from the domestic banking system. The Ministry of [...]
The Bank of Mozambique’s Monetary Policy Committee decided today to keep all its reference interest rates stable. The MIMO policy rate remains at 14.25%, the deposit rate remains 11.25%, and the lending rate remains 17.25%.