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Economy

Mozambique's Ministry of Finance, Maputo © Tom Bowker / Zitamar News

7. November, 2018 0

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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Economy
6. November, 2018 0

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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Economy
12. September, 2018 0

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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Economy
11. September, 2018 0

Mozambique inflation tops 5% following currency weakness

Mozambique’s official annual inflation rate breached 5% last month, driven by price rises in fuel - particularly petrol - and mains water, according to the statistics authority. The increase in fuel prices may have [...]

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Business
31. August, 2018 0

Bank of Mozambique keeps cautious stance ahead of election season

The Bank of Mozambique’s monetary policy committee (CPMO) yesterday kept its central lending and deposit rates steady, in the face of uncertainty over what effect the coming electoral cycle will have on inflation.
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Economy
8. August, 2018 0

Mozambique debt proposal would violate government’s position on gas

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
8. August, 2018 0

Mozambique borrows $15.5m from domestic banks in T-bond auction

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 [...]

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Economy
1. August, 2018 0

Mozambique electric company head to return to African Development Bank

Mateus Magala, the chairman of Mozambique’s state-owned power company EDM, has decided to return to the African Development Bank (AfDB) as vice president for corporate services and human resources. According to the [...]

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Economy
26. July, 2018 0

EU agrees to redirect €290m frozen budget support to Mozambique sectors

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
25. July, 2018 0

Mozambique government could face fiscal crisis after T-bond auction failure

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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Intelligent news from Mozambique

Resource nationalism in Tanzania driving gas investors to Mozambique

Floods leave thousands homeless, and halt Vale coal exports from Tete

Frelimo holding company sells cement plant stake in $85m deal

Tongaat Hulett warns over $90m loss as Xinavane refinery start is delayed

Mozambique rescue efforts intensify as full scale of Idai tragedy unfolds

Mozambique seeks cancellation of loan guarantee in Credit Suisse lawsuit

Resource nationalism in Tanzania driving gas investors to Mozambique

Floods leave thousands homeless, and halt Vale coal exports from Tete

Frelimo holding company sells cement plant stake in $85m deal

Tongaat Hulett warns over $90m loss as Xinavane refinery start is delayed

Mozambique rescue efforts intensify as full scale of Idai tragedy unfolds

Mozambique seeks cancellation of loan guarantee in Credit Suisse lawsuit

Browsing: Economy

IMF in Mozambique to lay groundwork for ‘crucial’ programme

Mozambique to share gas revenues with bondholders in restructure deal

Mozambique government forecasts 4.7% growth, 6.5% inflation in 2019

Mozambique inflation tops 5% following currency weakness

Bank of Mozambique keeps cautious stance ahead of election season

Mozambique debt proposal would violate government’s position on gas

Mozambique borrows $15.5m from domestic banks in T-bond auction

Mozambique electric company head to return to African Development Bank

EU agrees to redirect €290m frozen budget support to Mozambique sectors

Mozambique government could face fiscal crisis after T-bond auction failure

Zitamar Daily Briefing, 19 March