Mozambican government pays 1/4 of debt to suppliers

5 March 2019

The Mozambican government has paid 24% of its debt to the country’s private sector, with a total payment of 6.9 billion meticais (US$109.2 million) in 2018, Mozambican newspaper O País reported.

The newspaper added that the Mozambican government had accumulated debt of about 29 billion meticais (US$459 million) from 2009 to 2018, as a result of goods and services provided by the private sector to the state.

The delay or even lack of payment forced many private companies to close due to financial insolvency, especially in the civil construction sector.

The government announced last October the payment of that debt, with Prime Minister Carlos Agostinho do Rosário giving assurances last that 24% of the total had been paid speaking on the sidelines of the opening of the ninth ordinary session of the eighth legislature of the country’s parliament. (Macauhub)