Mozambique’s public debt to Angola partially written off

29 August 2014

The public debt Mozambique owes to Angola will be partially written off based on an agreement signed Thursday in Luanda by the governments of the two countries, after three days of bilateral meetings, according to the Angolan press.

The Mozambican Minister of Foreign Affairs and Cooperation, Oldemiro Baloi, said after the meeting an agreement had been reached on Mozambique’s debt, in which part will be written off and the rest will be used for investments in Angola and Mozambique.

“We will now determine the sectors where this investment will be carried out,” said the minister.

The two countries also decided to set up a mechanism to monitor agreements and understandings in order to foster cooperation, aimed at increasing their political and diplomatic relation, to the level of their economic and institutional relationship, which is considered excellent.

The Angolan minister for Planning and Territorial Development, Job Graça also mentioned agreements on Mozambique’s public debt to Angola and the introduction of facilities in granting visas on ordinary passports.

The Angolan minister also said a protocol between the two countries in the health and economic sectors would also be signed soon, and that a business forum would be held on a regular basis to allow businessmen from the two countries to talk and take advantage of investment opportunities. (macauhub/AO/MZ)