Mozambique: Chongoene asks Chapo for rehabilitation of irrigation systems, paved roads
Prospect of default raises Mozambique debt interest to 24 percent
11:42 CAT | 10 Jan 2017
London – The interest rate demanded by investors to transact Mozambique public debt worsened suddenly after JP Morgan predicted that the country would fail to make repayment installments this month.
The interest rate charged by investors to transact Mozambique public debt maturing before 1:00 p.m. Lisbon time rose to 24.09 percent, compared to the 23.19 percent required little more than a week ago.
According to the Bloomberg financial information agency, which monitors the interest demanded by investors trading debt securities in the secondary market, the value of the securities fell 3.2 percent to 57.9 cents on the dollar just before 1:00 p.m. Lisbon time.
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