Moz can’t pay debt

The Star Early Edition - - WORLD -

MOZAM­BIQUE will not make a pay­ment to­mor­row to hold­ers of its 2023 bond be­cause of its de­te­ri­o­rat­ing eco­nomic and fis­cal sit­u­a­tion, the fi­nance min­istry said yes­ter­day.

The south­ern African na­tion, whose to­tal for­eign obli­ga­tions are roughly equiv­a­lent to its GDP, said its fi­nan­cial dif­fi­cul­ties made its abil­ity to re­pay debt this year “ex­tremely lim­ited”. Reuters

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