Browsing: Mozam 2023

Economy
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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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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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Hidden Debts dossier
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Mozambique defaults again on sovereign bond as IMF visit concludes

The Mozambique government has confirmed that it will not make the second coupon payment on the sovereign bond it sold to investors in April 2016, despite improving economic conditions that bondholders argue could allow Mozambique to start honouring the [...]

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Hidden Debts dossier
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Bondholders say Mozambique should refuse to pay ProIndicus and MAM debts

A group of investors that hold part of Mozambique’s $726.5m sovereign bond today said the Kroll audit into the ProIndicus, EMATUM, and MAM deals provides further evidence that the Mozambique government should refuse to honour the “purported guarantees” of [...]

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Economy
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Mozambique says it will default on debut sovereign bond

Mozambique will not pay the $60 million first coupon on the sovereign bond it sold to investors in April 2016, the government announced today - a decision which has been described by analysts as “much more serious” than its failure in May 2016 to make a [...]

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Economy
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Mozambique government says audit won’t change debt restructure needs

The Mozambique government has hit back at the refusal of certain creditors to enter debt restructuring negotiations until an independent audit into the loans taken out by ProIndicus, EMATUM, and MAM has been completed - saying that the results of the audit [...]

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