Browsing: Moody’s

Economy EMATUM's fishing boats rusting in Maputo harbour. Photo © Timothy Haccius / Zitamar News
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Credit rating agency Moody's today said Mozambique’s default on three government-guaranteed loans for maritime security firms “will result in sizeable losses for private creditors”, which could be exacerbated by the government’s attempts to please the [...]

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Economy © Zitamar News
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Mozambique’s ministry of economy and finance has hired investment bank Lazard and international law firm White & Case to advise on the country’s foreign debt crisis, having decided not to retain one noted expert previously linked with the job. The Mozambique government provided state [...]

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Economy © Zitamar News
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Fitch, the world’s third largest credit ratings agency, has become the first to incorporate revelations over state debt guarantees to ProIndicus and Mozambique Asset Management (MAM) into its rating of Mozambique’s default risk, saying the newly disclosed [...]

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Economy Mozambique's Ministry of Finance, Maputo © Tom Bowker / Zitamar News
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A chaotic day for Mozambique’s economy yesterday saw the IMF suspend co-operation with the country over $1 billion in previously undisclosed borrowing, and ended with a $3 billion discrepancy between the finance minister and his spokesman’s estimates of [...]

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