Mozambican currency depreciates against US dollar
Mozambique’s finance ministry said on Friday it had not approached the Paris Club of wealthy creditor nations for debt relief, the country’s finance ministry said in a statement.
“The Ministry of Economy and Finance of the Republic of Mozambique wishes to deny recent rumors in the media erroneously reporting that the Republic has approached the Paris Club for debt relief,” the statement said, without giving any further details.
The southern African country, one of the world’s poorest said in January it would not make a coupon payment to holders of its 2023 dollar-bond. Mozambique, whose foreign obligations are roughly equivalent to its GDP, said its financial difficulties made its ability to repay debt this year “extremely limited”.
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