Mozambique’s public debt totals US$11.64 billion at the end of 2015

29 April 2016

Mozambique’s public debt, including guarantees issued by the government and debts incurred by the central bank to finance the balance of payments, reported on 31 December 2015, was US$11.64 billion, the country’s Prime Minister said Thursday in Maputo.

Carlos Agostinho do Rosario said that of that total US$9.89 billion corresponded to foreign debt, including US$247 million of the Bank of Mozambique and domestic debt totalled US$1.75 billion.

The debt taken on by Mozambican tuna company Ematum, worth US$850 million was spent on the acquisition of fishing vessels and related equipment (US$350 million) and coastal protection (US$500 million).

In addition to this debt, the government issued guarantees for loans taken on by ProIndicus worth US$622 million and Mozambique Asset Management (MAM) worth US$535 million.

Rosario said ProIndicus was created to provide security services to oil companies, marine vessels and traffic as well as providing search and rescue services. MAM was set up to provide services to ProIndicus and other companies to prevent the outflow of foreign currency for the maintenance and repair of these vessels.

The prime minister said he had informed the International Monetary Fund (IMF) of another debt of US$221.4 million to strengthen “order and public safety.” (macauhub/MZ)