China remains Mozambique’s largest creditor in 2018

27 June 2019

In 2018 for the sixth consecutive year China remained the country that granted the most credit to Mozambique, which increased US$400 million to US$2.2 billion this year, according to the State General Account.

The document, which was approved at a Council of Ministers meeting in Maputo on Tuesday, showed that the increase in debt was due to disbursements to finance the construction of the Maputo-Catembe bridge, the Catembe/Bela Vista/Ponta do Ouro road and the repair of the Beira-Machipanda road as well as the pier of the Beira fishing port.

Cited by daily newspaper A Verdade, the State General Account showed that Portugal came second in the list of Mozambique’s creditors of Mozambique, with US$611 million at the end of 2018.

Mozambique’s debt to Japan amounted to US$300 million with the funding made available last year for a Combined Cycle Gas Plant in Maputo.

Other Mozambican creditors, the newspaper said, were Libya, to which Mozambique owed US$257 million and South Korea, with US$243 million. (Macauhub)