Mozambique: Public debt rises 2.7% in Q1
Mozambique: Government invites Ematum bondholders to accept debt restructuring
10:23 CAT | 26 Aug 2019
Finance Minister Adriano Maleiane. [File photo: Lusa]
Mozambique’s government announced on Friday that it would be inviting the bearers of Eurobonds issued by public enterprise Ematum to accept the debt restructuring proposal presented in May.
The goal is that by the end of September there is agreement with holders of at least 75% of the debt and that it is thus able to “close” the restructuring, the minister of economics and finance, Adriano Maleiane, said in Maputo at a meeting with media editors.
Mozambique’s failure to meet its obligations relating to the Ematum Eurobonds has pushed the country into formal default, cutting off its access to international capital markets.
The debts in question arose with state guarantees given by the previous government but without either parliament or existing creditors being informed or consulted.
Source: Lusa
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