Mozambique

Mozambique’s Ex-President Dragged Into $2 Billion Debt Probe – Bloomberg – 05/04/2017

Mozambique’s attorney-general asked the country’s banks to provide details of former President Armando Guebuza’s accounts as part of an audit of $2 billion of previously undisclosed government loans.

Source:  Bloomberg, 2017/04/05

By |April 6th, 2017|Categories: News|Tags: , , |

Africa’s new sovereign debt crisis – DW – 20/03/2017

Mozambique is the first major African nation in recent times to become unable to meet obligations to international creditors. A decade after the last major debt write-down, African states are again in difficulties.

Source:  DW, 2017/03/20

By |March 23rd, 2017|Categories: News|Tags: , , , |

Yields on Mozambique’s public debt rise to around 28% – Macauhub – 13/01/2017

The possibility of Mozambique defaulting on its installment of US$59.8 million has led to yields on state-backed debt taken on by public companies rising to around 28%, according to financial news agency Bloomberg. Investment bank JP Morgan said in a research note issued recently it was highly unlikely that Mozambique would be in a position [...]

By |January 20th, 2017|Categories: News|Tags: , , , |

Mozambique: World Bank Warns of ‘Uncertain Outlook’ – allAfrica.com – 12/12/2016

Events over the past year have shaken Mozambique's macro-economic stability and “the sharp deterioration in economic conditions is having a deep impact on Mozambican households, especially the poor”, warns the World Bank in its latest report on the country.

Source:  allAfrica.com, 2016/12/12

By |December 15th, 2016|Categories: News|Tags: , , , |

Mozambique admits financial collapse and plans to restructure debt – Macauhub – 27/10/2016

The Government of Mozambique officially admitted the financial inability of the state to pay the next installments of the debts of public companies with hidden loans, and called for a restructuring of payments and a new financial aid from the International Monetary Fund (IMF).

Source:  Macauhub, 2016/10/27

By |November 3rd, 2016|Categories: News|Tags: , , |

Mozambique: Debt crisis threatens to sink economy – African Business – 26/10/2016

Mozambique has warned its creditors that the country will have to restructure its debts to emerge from debt distress. The southern African nation revealed on Tuesday that its debt was not sustainable and the country was unable to repay loans until gas revenues are available after 2021.

Source:  African Business, 2016/10/26

By |October 27th, 2016|Categories: News|Tags: , , , |

Fitch Highlights Mozambique Default Risk With Rating Cut on Debt

Fitch Ratings Ltd. downgraded Mozambique’s credit grade to CCC from B after the southern African nation revealed that it had kept more than $1 billion of debt hidden from investors.

Source:  Bloomberg, 2016/04/29

By |May 3rd, 2016|Categories: News|Tags: , , |

The Energy Sector is Undermining National Security and Development in Mozambique

Political stability and absence of violence in Mozambique are in their lowest levels in two decades. And while Mozambique's economy remains one of the most dynamic on the continent it is unclear how its main development driver - extractive sector, propelled by a boost in coal exports - will impact income inequality and the prospectives [...]

By |July 7th, 2015|Categories: News|Tags: , , , , |

Falling oil prices push political risk

Oil producing countries have experienced a rise in political risk, finds Aon’s 2015 political risk map, which focuses on emerging markets. Only seven countries managed to reduce risk compared to last year, while the commodity price decline was a common factor in most of the 12 countries that were downgraded. Oil prices may be stabilising [...]

By |March 4th, 2015|Categories: News|Tags: , , , , , , |