Mozambique said China’s government had agreed to let it reschedule some debt \u200bpayments, adding the deal would help relieve \u200cimmediate pressure on its public finances.<\/p>\n
The finance ministry statement, issued on Monday, did not give the amount \u200bof debt payments that had been \u200brescheduled.<\/p>\n
“Beyond adjusting payment schedules, the process aims \u2060to create more fiscal space to pursue \u200bnational priorities,” the statement added.<\/p>\n
Official data show Mozambique \u200bowed China about $1.28 billion at end-June, nearly 15% of its total external debt, making China its largest \u200bbilateral creditor.<\/p>\n
Mozambique said in the statement on \u200bMonday the agreement with Beijing would be formalised by certain \u200cinstruments \u2060with the Export-Import Bank of China, without elaborating.<\/p>\n
The resource-rich Southern African country has been grappling with a heavy debt burden, which a \u200bWorld Bank \u200band International \u2060Monetary Fund analysis has deemed unsustainable.<\/p>\n
Its problems date back to a \u200bhidden-debt scandal that erupted in 2016, \u200bwrecked \u2060investor confidence and curbed access to funding.<\/p>\n
Delays to major natural gas projects that were expected to \u2060boost \u200bexports, revenue and government \u200bfinances have made matters worse.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mozambique said China’s government had agreed to let it reschedule some debt \u200bpayments, adding the deal would help relieve \u200cimmediate pressure on its public finances. The finance ministry statement, issued on Monday, did not give the amount \u200bof debt payments that had been \u200brescheduled. “Beyond adjusting payment schedules, the process aims \u2060to create more fiscal […]<\/p>\n","protected":false},"author":6,"featured_media":9422,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":4,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32,2362],"tags":[396,71],"class_list":["post-22463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","category-featured","tag-china","tag-mozambique"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22463"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22463\/revisions"}],"predecessor-version":[{"id":22464,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22463\/revisions\/22464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9422"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}