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China remains Mozambique’s largest creditor in 2018

In 2018 for the sixth consecutive year China remained the country that granted the most credit to Mozambique, which increased US$400 million to US$2.2 billion this year, according to the State General Account.

The document, which was approved at a Council of Ministers meeting in Maputo on Tuesday, showed that the increase in debt was due to disbursements to finance the construction of the Maputo-Catembe bridge, the Catembe/Bela Vista/Ponta do Ouro road and the repair of the Beira-Machipanda road as well as the pier of the Beira fishing port.

Cited by daily newspaper A Verdade, the State General Account showed that Portugal came second in the list of Mozambique’s creditors of Mozambique, with US$611 million at the end of 2018.

Mozambique’s debt to Japan amounted to US$300 million with the funding made available last year for a Combined Cycle Gas Plant in Maputo.

Other Mozambican creditors, the newspaper said, were Libya, to which Mozambique owed US$257 million and South Korea, with US$243 million.

Source: Macauhub

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