Chinese Government cancels RMB 30 million of the Government of Mozambique’s outstanding debt obligations

On June 13, 2016, the Chinese Government agreed to cancel the Government of Mozambique’s outstanding debt obligations by RMB 30 million. These obligations resulted from an interest-free loan that the Government of Mozambique previously contracted with the Chinese Government. The agreement was signed in Maputo by Mozambique's Deputy Minister of Economy and Finance, Maria Isaltina Lucas, and the Chinese Deputy Trade Minister, Zhang Xiangchen.

Additional details

The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs. As such, the loans likely had maturity lengths of 20 years and since they had reached maturity no later than 2016, they were almost certainly contracted prior to 2000. Therefore, AidData has not assigned this record to the umbrella category (as there is little risk of double counting the monetary value of the debts that were forgiven).

Number of official sources

1

Number of total sources

9