Mozambique is analysing with Angola where to invest the remaining US$30 million of bilateral debt

25 May 2011

Luanda, Angola, 25 May – Mozambique has started discussing with Angola the mechanisms for payment of bilateral debt, which currently stands at US$30.75 million, the Mozambican Finance Minister, Manuel Chang said in Luanda.

Cited by Rádio Nacional de Angola, the minister said that Mozambique had benefited from a debt pardon o f around US$61.5 million, “and now the two sides are defining methods for payment of the remainder.”

“The debt pardon agreement for 50 percent of the debt stipulated that the remaining 50 percent would have to be converted into Mozambican investment in Angola and that is precisely what we are doing; determining the areas in which we can make that investment,” Chang noted. (macauhub)