Mozambique Says Will Miss $60 Million Interest Payment
Muhammad Rameez Published January 16, 2017 | 06:10 PM
MAPUTO, , (APP - UrduPoint / Pakistan Point News - 16th Jan, 2017 ) - Mozambique said Monday it would miss a $60 million 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 deteriorating macroeconomic and fiscal situation of the Republic has severely affected the country's public finances," the finance ministry said in a statement declaring that Mozambique would not pay the $60 million interest payment due on January 18.
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