Download MacauHub mobile app (iOS version)

Download MacauHub mobile app (Android version)

China was Mozambique’s top lending country in 2012

China was the country which lent the most money to Mozambique in 2012, a total of US$1,148.67 million in low-interest and commercial loans, the Finance Ministry announced in Maputo.

External debt contracted by Mozambique during the last year reached US$1,915.07 million. China was the international partner that lent the most to the country, financing six projects worth US$1,148.67 million.

Mozambique contracted 15 low-interest loans worth a total of US$674.98 million, with China financing four projects with US$167.08 million. In that lending mode the country’s top lender was the World Bank’s International Development Association (IDA) – three projects with US$268.12 million.

Commercial lending accounts for most of the contracted debt, US$1,240.09 million, China being the foremost lender to Mozambique with a total of US$981.59 million in two projects, the Maputo Ring Road (300 million) and the Ponte/Estrada Maputo/Catembe/Ponta do Ouro route (681.59 million).

The Finance Ministry also indicated that Mozambique’s public debt increased by 21.3 percent during 2011, rising from US$5,037.21 million to US$5,633.43 million in 2012, and accounts for 40 percent of the country’s gross domestic product. (macauhub)

Share this news:
  • Facebook
  • Twitter
  • LinkedIn
  • Print
  • email
  • RSS

Related News:

  1. Mozambican employers criticise central bank’s decision to raise base lending rate
  2. Banco de Moçambique cuts marginal lending rate to 9.5 percent
  3. Mozambique: China assesses cooperation projects put forward by Maputo
  4. Mozambique may take on commercial loans up to a maximum of US$900 million
  5. Chinese ambassador to Mozambique gives assurances that more Chinese projects will be set up in the country