Mozambique is a good payer – finance minister

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Mozambique is a good payer – finance minister

9:48 CAT | 17 Sep 2018

File photo: Lusa

Mozambique’s minister of economy and finance, Adriano Maleiane said in Mozambican capital Maputo on Monday that the country was a payer of its debt despite failing to pay its foreign borrowings.

“Mozambique is a good payer of its debt,” Mr Maleiane said at the sidelines of a conference. “Around 87% of our debt is with bilateral and multilateral creditors and we are paying them.”

The remaining 17% of the country’s foreign debt is being negotiated, he added.

Mr Maleiane said Mozambique was a “country to invest in,” adding that he hoped the negotiations underway would end by the end of the year.

Mozambique’s debt strategy committee suggested in the beginning of August for the government to return $200 million by 2023 and from then on to give back the remaining amount depending on its revenue from natural gas, with production forecast to kick off in 2022.

Source: Lusa