Mozambique maintains dialogue with creditors to settle hidden debts

17 May 2018

The Mozambican government maintains a permanent dialogue with international creditors to make the country’s public debt return to a level that is sustainable, Prime Minister Carlos Agostinho do Rosário said on Wednesday while addressing the members of the country’s parliament.

In response to questions asked by the parliamentary groups (Frelimo, MDM and Renamo) on the political, economic and social situation of the country, the Prime Minister called for the need to continue to rely on the justice system and to wait for the outcome of the ongoing clarification process.

Economy and Finance Minister Adriano Maleiane also added that the government continues to try to renegotiate the burden of so-called hidden debts to make its obligations to creditors sustainable.

When assessing the country’s public debt situation, Maleiane said the government is not honouring the payment of commercial and syndicated loans, which amount to US$1.859 million, and “their restructuring is being negotiated.”

The Minister of Economy and Finance said that Mozambique has been paying regularly for multilateral and bilateral foreign debt as well as domestic debt, having paid out the equivalent of US$ 217 million in 2017.

Maleiane also said Mozambique’s external public debt amounted to US$10.6 billion at the end of 2017 and domestic public debt exceeded 100.5 billion meticals (US$1.652 billion). (macauhub)