Browsing: Economy
Mozambique finance ministry projections assume Exxon project will fail
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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Mozambique moving towards IMF programme – Prime Minister
The International Monetary Fund (IMF)’s recent visit to Mozambique saw progress towards “the establishment of a programme” with the country, Prime Minister Carlos Agostinho do Rosário told parliament in Maputo last week.
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Mozambique won’t share gas take with MAM and ProIndicus creditors – Maleiane
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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IMF eyes new Mozambique programme, as civil society ‘questions sincerity’
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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$2.4bn ‘price of credibility’ for Mozambique, but economists warn of more instability
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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IMF in Mozambique to lay groundwork for ‘crucial’ programme
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.
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Mozambique to share gas revenues with bondholders in restructure deal
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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Mozambique government forecasts 4.7% growth, 6.5% inflation in 2019
The Mozambique government expects the country’s GDP to grow by 4.7% in 2019, but will need to borrow MZN 80 billion (around $1.4bn) internally and externally to fund planned public expenditure, it announced yesterday, .
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