Mozambican central bank to issue US$ 180 million in bonds by 2007

26 June 2006

Maputo, Mozambique, 26 June – The Bank of Mozambique is to issue bonds worth US$ 180 million by the end of the year, the country’s central bank has announced.

According to the annual report of the bank, the issue is being made following recommendations from the International Monetary Fund on long-term returns on capital used to finance state spending.

Treasury bonds worth about US$ 60 million were issued during 2005, at an average exchange rate of meticais 25,000, and used to increase the bank’s assets.

Over the same period, the Bank of Mozambique recorded an operational loss of US$ 250,000 and posted a marginally positive net result, the country’s central bank said. (macauhub)

MACAUHUB FRENCH