Mozambique: Communities in Banhine National Park begin to benefit from 20% tax
Mozambique Eurobond holders form creditor committee – The GGMB
6:04 CAT | 08 Nov 2016
File photo / Maputo view
Holders of Mozambique’s 2023 Eurobond said on Tuesday they had formed a creditors’ committee representing 60 percent of holders of the issue, but added that other commercial and multilateral lenders ought to be first in line to provide debt relief.
“The formation of the GGMB (Global Group of Mozambique Bondholders) was triggered by Mozambique’s surprise announcement on October 25, 2016 that it intends to seek a restructuring of the entirety of its external commercial debt, including the 2023 bonds that creditors agreed to restructure only six months ago,” the statement said.
The committee also added that negotiations with the government should only begin once an independent debt audit had been completed and published.
Source: Reuters
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