Browsing: Politics & 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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Marromeu to go to polls again after Constitutional Council validates 52 of 53 results
The result of municipal elections in 52 of Mozambique’s 53 municipalities was confirmed by Mozambique’s Constitutional Council today - although the body ordered that part of the election in the town of Marromeu to be re-run.
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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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