6 °c
London
Monday, April 19, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Mozambique May Make Loan Payment in ‘Days,’ Ministry Says

FurtherAfrica by FurtherAfrica
May 29, 2016
in Africa, Banking, Economy, Government, Mozambique
Reading Time: 1 min read
1
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Mozambique and VTB Bank PJSC of Russia are close to agreeing on a restructuring of a loan to a state-owned company in the southeast African nation and the $178 million interest payment that was due on May 23, a finance ministry spokesman said.

“We are working very diligently with VTB to pay the outstanding interest and complete the agreed restructuring” of the loan to state-owned Mozambique Asset Management, or MAM, finance ministry spokesman Rogerio Nkomo said Sunday in response to e-mailed questions. “Both are expected to happen in the next few days.”

The cash-strapped nation is facing demands from donors to disclose the state of finances, including listing all existing and planned debt. A letter from the so-called Group of 14 donors, released this month, requested that the government reveal the shareholding structure of MAM and a second state-owned company, Proindicus, which was lent $622 million in 2013.

S&P Global Ratings, which estimates Mozambique’s net general debt at 90 percent of gross domestic product this year, and Fitch Ratings this month lowered the country’s credit assessment, saying the nation was at a greater risk of default.

The yields on Mozambique’s bonds due January 2023 closed at a record 17.14 percent on May 27, according to data compiled by Bloomberg. The metical has sunk 18 percent this year after depreciating 32 percent in 2015.

 
Source: Bloomberg

Related

Tags: Bondcurrency devaluationforeign debtMAMmeticalMozambiqueMozambique Asset ManagementVTBモザンビーク莫桑比克
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

Angola with a huge mineralogical potential

Next Post

Angola: Iron strengthens national economy

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

South Africa Green bond
Energy

Renewable energy ensuring economic and climate resilience for Southern Africa

by FurtherAfrica
April 19, 2021
Rwanda tapping into Agri-tourism
Agriculture

Rwanda tapping into Agri-tourism

by Taarifa Rwanda
April 18, 2021
South Africa: Western Cape sees increase in domestic travel over Easter weekend
Weekend

South Africa: Western Cape sees increase in domestic travel over Easter weekend

by FurtherAfrica
April 17, 2021
Water

Zimbabwe to export water to South Africa

by Staff
April 16, 2021
Conference Access to Africa coming to Dakar, Senegal
Conference

Conference Access to Africa coming to Dakar, Senegal

by FurtherAfrica
April 16, 2021
Next Post

Angola: Iron strengthens national economy

Mozambique: Record power output for HCB in 2015

Angola: Foreign currency sales increase to over 260 million Euros

Comments 1

  1. Avatar Internet Services says:
    5 years ago

    This design is incredible! You obviouslky know how tto keep a reader entertained.
    Between your wit and your videos, I was almost moved to start my own blog (well,
    almost…HaHa!) Excellent job. I really enjoyed what you had to say, and more
    than that, hhow you presented it. Too cool!

    Reply

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?