Mozambique: Foreign debt falls to US$3.3 billion

16 November 2007

Maputo, Mozambique, 16 Nov – Mozambique’s foreign debt feel to US$3.3 billion after in June having totaled US$5.2 billion, the national Treasury director, António Laíce said Thursday in Maputo.

Speaking during a seminar on management of public resources, which began Thursday in Maputo, Laíce said that the reduction of the debt was due to debt pardons by some governments and international financial institutions.

Laíce also said that by the end of the year the government plans to take out a US$100 million loan in order to invest in Education, Roads and Health amongst other sectors.

In his turn, World Bank representative, Gregorr Binkert, said that international donors expected to loan Mozambique US$435 million in the next year.

At the end of the first half of 2007, the public and private foreign debt of Mozambique totaled US$5.2 billion, which was a fall of US$1.5 billion against the same period of 2006. (macauhub)