Mozambique political unrest disrupts Eswatini sugar exports - VOA
Mozambique dollar bond down 1 cent as govt misses loan payment – Reuters
12:11 CAT | 24 May 2016
Mozambique’s dollar-denominated bonds fell by as much as 1 cent on Tuesday as Maputo edged towards default on a loan after missing a repayment deadline.
The 2023 bond which had been issued at 80 cents in early-April as part of a debt swap, traded at 76 cents in the dollar, according to Thomson Reuters data.
On Monday, a source at the country’s finance ministry said state firm Mozambique Asset Management (MAM) had been unable to make the $178 million repayment which is part of a $535 million arranged by Russia’s VTB Bank, and the government – which guarantees the loan – also failed to stump up the cash.
Source: Reuters
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