"Employment can be very poorly paid; employment can create poverty ”
Governor of the Bank of Mozambique Rogério Lucas Zandamela said today in Macau that the debt to China “does not suffocate” the country, “is welcome” and “leverages the growth” of the economy.
“It is not a debt that suffocates us, and so far there is no prospect that it will create problems for us. On the contrary, this kind of debt is welcome because it leverages growth,” Zandamela told the 10th International Infrastructure Investment and Construction Forum (IIICF), which ends today in Macau.
Without advancing any actual amount, the head of the Bank of Mozambique said that the debt was not speculative and that it was used to promote investment.
“We know where the money went, and to what kind of activities. There was an evaluation of the projects on both sides, and there is a conservatism very well known to our Chinese partners,” he said, reiterating that there was no reason for apprehension.