Governor of the Bank of Mozambique says national debt is under control

7 October 2014

Mozambique’s public debt is under controlled, the Governor of the Bank of Mozambique, Ernesto Gove said in Lisbon Monday.

The governor also gave assurances that the government would not allow investments in infrastructure to ensure conditions for exploration of natural resources to cause public debt to slip.

Outside the 24th Lisbon meeting between the central banks of Portuguese-speaking countries, Gove said that “public investment to ensure construction of infrastructure is within limits that ensure debt sustainability, the values ​​of which are agreed with the World Bank and the International Monetary Fund. ”

Figures provided at the conference showed that total external public debt increased from US$3.4 billion in 2007 to US$4.8 billion in 2012 and nearly US$5.8 billion last year, a figure that represents 36.9 percent of Gross Domestic Product. (macauhub/MZ)