Public debt: Government paid 7.7 billion meticais in the first quarter

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Public debt: Government paid 7.7 billion meticais in the first quarter

4:06 CAT | 25 May 2020

File photo: DW

Mozambican public debt service increased 55.6% in the first quarter of 2020, compared to the first three months of last year.

Between January and March of this year, the Government paid about 7.7 billion meticais [around US$111.6 million at current exchange rates] in amortisation of external and internal loans, against 4.7 billion meticais paid in the same period of 2019.

Of the total debt charges, 3.9 billion meticais were absorbed by external creditors and 3.7 billion meticais by internal obligations, including bank financing, Treasury Bonds, and restructuring and consolidation of the state’s business fabric.

“Regarding the amortisation of domestic debt, in addition to the amount related to the payment of Treasury Bonds and bank financing, an amount of 496.2 million meticais was also disbursed, related to the payment of debt from previous years with suppliers of goods and services within the scope of restructuring and fiscal consolidation,” the Ministry of Economy and Finance declares in its budget execution report for the first quarter of 2020.

The stock of domestic debt reached more than 170 billion meticais in the period under review.

By Edson Arante

Source: O País