Browsing: Economy

Economy
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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
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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
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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
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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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