Moz to Miss Payment

Mozambique said it would miss a $60m interest payment on a 2023 bond

Mozambique said on Monday it would miss a $60m interest payment on a 2023 bond, as its economic crisis deepens over hidden debt, the fall in commodity prices and a cut-off in aid.

The country is in talks with the International Monetary Fund (IMF) over resuming support that was suspended in April due to the hidden debt scandal.

"The deteriorating macroeconomic and fiscal situation of the Republic has severely affected the country's public finances," the finance ministry said in a statement in Maputo.

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Source: 
News24

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