The Governor of the Bank of Mozambique, Rogério Zandamela, recently explained that the negotiation of the ProIndicus debt with Credit Suisse, now the UBS Group, and the national bank that provided the loans, aims to protect the Mozambican financial system.

Quoted by NewsHe said that the agreement with the financial institutions provides for the debt to be paid in national currency, avoiding the use of foreign currency.

"For us, I think it was good news. We managed to reduce this commercial debt, but in this process they weren't the only creditors, there were others who demanded payment," said Zandamela, estimating that around 46 million US dollars have already been paid.

He was speaking at the end of the session of the Monetary Policy Committee of the Bank of Mozambique, explaining that the use of public reserves to pay debts was an unavoidable measure.

Mozambique withdrew its lawsuit against Credit Suisse on condition that the bank did not demand payment of the debt. The measure did not extend to commercial banks, including the national ones that participated in the design of the debt.