Browsing: Economy

Economy Credit Suisse arranged the ProIndicus and EMATUM loans.
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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 [...]

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Economy Maputo, capital of Mozambique. Photo: Zitamar News
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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 [...]

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Business Photo: ZItamar News
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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 [...]

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Economy Bank of Mozambique governor Ernesto Gove and the executive board, November 2015. Photo: Bank of Mozambique
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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.

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

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Economy Bank of Mozambique governor Ernesto Gove and the executive board, November 2015. Photo: Bank of Mozambique
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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 [...]

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