The Mozambique government has offered EMATUM bond investors an interest rate of 10.5% per year on up to $585.5 million worth of new government debt, to be repaid in 2023. The bond will be offered in exchange for the existing $697 million in EMATUM bonds [...]
Credit rating agencies Standard & Poor’s and Moody’s yesterday downgraded Mozambique’s sovereign rating to CC on the expectation that the government’s attempt to restructure the outstanding $700 million of the controversial EMATUM debt will count as a [...]
Inflation in Mozambique hit an annual rate of 12% at the end of last month, driven by rising food prices which show no sign of softening as the drought affecting the entire region hits supplies. Statistics from [...]
International investors have been asked to accept a 20% haircut and longer tenor on Mozambique’s EMATUM loan, which funded spending on a military now facing allegations of human rights abuses against the civilian population
A report on corruption in Mozambique’s business environment has given the country a score of zero out of 100 for its enforcement of laws prohibiting the bribery of public officials, and argues that Mozambican businesses have little incentive to promote [...]
The Bank of Mozambique raised interest rates again yesterday, despite warnings from the International Monetary Fund (IMF) that its actions have little effect on inflation in Mozambique, which hit 11.6% over the past 12 months.
The Mozambique government finalised its 2015 economic report on Tuesday, claiming inflation fell below government projections for the year, despite official figures showing the rate was in fact more than double the government target.
Mozambique’s credit rating is due to be updated tomorrow by ratings agency Standard & Poor’s, while their counterparts at Moody’s are understood to be in Maputo today, 4 February, holding talks with officials at the ministry of finance.
The Bank of Mozambique’s monetary policy committee decided to leave its benchmark interest rates unchanged on Friday, to ‘consolidate the gains’ of the sharp measures it took at the end of 2015 aimed at stabilising the value of the metical and curbing [...]
The Bank of Mozambique is likely to continue raising interest rates this year even if it holds them steady at today’s monetary policy committee meeting, according to economists surveyed by Zitamar News