Angola grants debt relief to Mozambique

12 November 2015

The government of Angola has decided to write off Mozambique’s debt “to stimulate the existing friendly relations and cooperation between the two countries,” the President of Mozambique said Wednesday in Luanda.

The debt relief of about US$600 million, will be granted through the cancellation of US$300 million and the conversion of the remaining US$300 million in investment.

This debt relief had been revealed in August 2014 by the Minister of Foreign Affairs and Cooperation of Mozambique, Oldemiro Baloi, during the 9th Joint Angola-Mozambique Commission for Bilateral Cooperation, although it had not disclosed figures.

President Filipe Nyusi said the debt relief agreement was now in writing in the final communiqué of the high-level talks between the two countries during a state visit that began Sunday.

Nyusi also said an agreement had been reached during the meeting with José Eduardo dos Santos that the issue of making it easier to grant ordinary visas would be settled in 2016.

The President of Mozambique said the forum with businessmen from both countries was a success, with agreements signed between the Investment Promotion Centre (CPI) and the Angola Chamber of Commerce and Industry, between the Confederation of Economic Associations (CTA) and the Corporate Governance Centre of Angola and between the Confederation of Mozambican Enterprises and the Business Development Institute.

The Mozambican President also mentioned the visits to Angolan oil company Sonangol and the logistics base for the oil sector, Sonils, noting that they would be a model to adopt by the sector in Mozambique, as the country prepares for the exploration, in the next decade, of one of the largest natural gas reserves in the world. (macauhub/AO/MZ)