News

Mozambique asking China to ease US$1.3 bln debt burden

Mozambican Economy and Finance Minister Adriano Maleiane has told a World Bank meeting that he is awaiting an answer from Beijing to a request for a moratorium on repayments of Mozambican debt to China, Lusa reports.

Mozambique owes China and Chinese banks about US$1.3 billion, the Portuguese news agency quotes Mr Maleiane as telling the meeting.

Last month a spokesman for the Chinese Foreign Ministry said representatives of Chinese financial institutions and the Angolan authorities had reached basic accord on easing the onus on Angola of its debt to China.

The state-owned Export-Import Bank of China had helped Angola ask the International Monetary Fund for emergency assistance, and was ready to help Angola avail of a scheme by the G-20 group of countries for lightening the burden of debt borne by African countries, the spokesman said.