12 °c
London
Friday, June 24, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

China is Mozambique’s largest country creditor up to 2017

FurtherAfrica by FurtherAfrica
January 21, 2019
in Africa, Banking, Economy, Finance, Mozambique
Reading Time: 2 mins read
1.2k 12
0
China is Mozambique’s largest country creditor up to 2017
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

China was Mozambique’s largest creditor country at the end of 2017, with loans totaling US$1.8 billion, according to the Report and Opinion of the Administrative Tribunal on that year’s State General Account.

Mozambique’s debt to China at the end of 2017 accounted for 38.3% of total debt to other countries, with a large part of the borrowing from state-related projects launched during the second term of President Armando Guebuza.

The Administrative Court report, which does not include recent debt taken on for the construction of Xai-Xai airport, added that from December 2016 to December 2017 Mozambique’s debt to China increased by US$200 million.

Mozambican newspaper A Verdade, quoting the report’s findings, noted that the repayment terms of these loans, which are “seemingly uninterested and only require that companies from China carry out the works,” are a “great mystery.”

The National Stadium of Zimpeto, the new Mavalane airport, the new Presidency building, the Circular Road and the Maputo-Catembe bridge are some of the facilities negotiated during Guebuza’s second term.

All of these projects have resulted in Mozambique’s debt to China rising from US$342 million in 2012/2013 to US$1.6 billion when Filipe Nyusi was sworn in as President of the Republic.

The Administrative Tribunal’s report also showed that the debt increase in 2017 was due to the registration of the US$156 million loan negotiated by Armando Guebuza for the process of analogue to digital migration of the television and telephone networks that has a rate of interest of 2.0% and a a repayment period of 20 years, with a seven-year grace period.

China was, however, only the second largest individual lender to Mozambique, with the first place occupied by the International Development Association (IDA), a World Bank institution, which provided loans totaling US$2.5 billion.

Mozambique’s bilateral public debt totalled US$4.8 billion at the end of 2017, and the third largest creditor was Portugal, with US$640 million, followed by Libya, US$232 million, France, US$213 million, Iraq, US$211 million and South Korea, US$201 million.

Mozambique’s total public debt amounted to US$10.3 billion, with external debt accounting for US$8.7 billion of that total.

Source: Macauhub

Related

Tags: Administrative TribunalArmando GuebuzachinaFeatureguebuzaMaputo AirportMaputo Circular RoadMaputo-Catembe bridgeMavalane airportMozambiqueNational Stadium of Zimpetosovereign debtWorld BankXai-Xai airportмозамбикموزمبيقモザンビーク莫桑比克
ScanSendShare476Tweet298Share83Pin107Send
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

Tourism

Kenya and Mastercard signs MoU to boost tourism

by FurtherAfrica
June 24, 2022
Opinion: The consequences of Africa’s careless agricultural trade
Agriculture

Nigeria set for 1st National Agricultural Sample Census in decades

by Farmers Review Africa
June 24, 2022
Energy

The 10 most electrified countries in Africa

by Energy Capital & Power
June 24, 2022
Development

IMF discusses reforms and economic developments in Ethiopia

by Emmanuel Chilamphuma
June 24, 2022
Economy

Angola improves financial system

by FurtherAfrica
June 24, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

Tourism

Kenya and Mastercard signs MoU to boost tourism

by FurtherAfrica
June 24, 2022
0

The MoU aims to drive the growth of tourism numbers in Kenya by leveraging various Mastercard channels, including its Priceless.com...

Read more
Opinion: The consequences of Africa’s careless agricultural trade

Nigeria set for 1st National Agricultural Sample Census in decades

June 24, 2022

The 10 most electrified countries in Africa

June 24, 2022

IMF discusses reforms and economic developments in Ethiopia

June 24, 2022

Angola improves financial system

June 24, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

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

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • 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
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
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?