Mozambique issues internal debt to cover budget deficit

20 March 2013

The Mozambican government plans to issue internal debt of 3.6 billion meticals (US$120 million) in order to cover the budget deficit for this year, said the spokesman and deputy Foreign Affairs Minister, Henrique Banze said.

At the end of the council of Ministers, which authorised the Finance Ministry to issue Treasury Bonds, the deputy minister said that the debt issue had been included in the Budget Law for 2013, approved last year by the country’s parliament.

Banze also said that to ensure coverage of the budget deficit the government had decided to focus on internal debt, and that this issue would be listed on the Mozambique Stock Exchange.

According to the Mozambican press, the deputy minister did not give technical details of the Treasury Bond issue. (macauhub)