The Bank of Mozambique warns of the high risk of the government defaulting this year on part of its debt service obligations to creditors both inside and outside the country. The information is contained in the report on Financial Stability, recently released by the Bank of Mozambique. "The prevalence of sovereign risk at the severe level is...
In the first quarter of this year, Mozambique settled all of its external debt owed to the International Monetary Fund (IMF) and other international creditors. The information is contained in the Quarterly Bulletin on Public Debt, and the act is part of the Mozambican government's efforts to recover the country's financial credibility after the delays...
The Mozambican state has resorted to issuing Treasury Bonds (OT), with a maturity of six years, to conclude an out-of-court settlement with the creditors of ProIndicus (Credit Suisse and local banks, excluding VTB), in connection with the hidden debts case. In an analysis released by the Centre for Public Integrity (CIP), a Mozambican non-governmental organization, the...
A Hong Kong court on Monday ordered the liquidation of Chinese construction company China Evergrande Group, after it failed to reach an agreement with creditors to restructure debt issued across borders. Evergrande, which has accumulated liabilities of almost 330 billion dollars, defaulted two years ago after...
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, announced on Thursday that the memorandum of understanding between Zambia and its debt creditors has finally been signed. "The Zambian government is very good, but it is mired in the debts of the past, and the memorandum of understanding has finally been signed," announced the director of the...
On Friday, the International Monetary Fund, the World Bank and India will host a meeting of international creditors, including China, to discuss gaps in the restructuring process for countries with unsustainable debt. According to the Bloomberg financial news agency, Friday's virtual meeting will be attended by...
China and other major creditors have a responsibility to prevent the debt problems facing emerging markets and low-income countries from exploding, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Tuesday. Georgieva, speaking at an event organized by the Center for Global Development, said 25% of emerging markets...
The return of the International Monetary Fund (IMF), the World Bank and other international creditors to Mozambique will create conditions for cushioning the country's high public debt, say some political analysts, who, however, warn that if the conflict in Cabo Delgado is not resolved the debt could worsen. Official data indicate that...
The President of the Republic, Filipe Nyusi, calls for the forgiveness of debts of creditors to African countries, in order to ease the recovery of economies, affected by the pandemic of the new coronavirus. Speaking this Thursday in Brussels at a meeting of some African leaders with the European Corporate Council for Africa and the Middle East, the Mozambican statesman justified the...
The Chinese real estate group, Evergrande, appealed this Monday to creditors to be more patient and provide more time for the payment of debts, also asking that "no radical legal actions are taken," says Reuters quoted by the newspaper "Business". Three days ago a group of foreign creditors of the real estate giant Evergrande threatened...