Chinese Government reschedules Mozambique's outstanding debt obligations worth $2.02 billion

According to the IMF, the Chinese Government agreed at least in principle to reschedule Mozambique's outstanding debts in 2017. Then, in March 2018, Mozambique’s Prime Minister Carlos Agostinho do Rosario announced that his government had signed a debt rescheduling agreement with the Chinese Government. One month later, in April 2018, Stelia Neta, a National Director at the Ministry of Finance of Mozambique told Bloomberg News that the Government of Mozambique’s outstanding debt obligations to the Chinese Government amounted to $2.02 billion and the Chinese Government had agreed to extend the grace periods (and first principal repayments) on these outstanding debt obligations without changing their final maturity dates or interest rates.

Additional details

1. Most of the loans that were rescheduled were reportedly from China Eximbank. This issue warrants further investigation.

Number of official sources

2

Number of total sources

14