Mozambique
will assume responsibility for debt incurred by previous administrations, but
there needs to be a shared responsibility by those providing the loans, the
country’s
will assume responsibility for debt incurred by previous administrations, but
there needs to be a shared responsibility by those providing the loans, the
country’s
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President Filipe Nyusi
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president Filipe Nyusi said on Tuesday.
Nyusi, who
spoke through a translator at an international think-tank at Chatham House in
London, was referring to multilateral and foreign donours, who cut off the
country following irregularities in undisclosed loans to the country in 2016.
spoke through a translator at an international think-tank at Chatham House in
London, was referring to multilateral and foreign donours, who cut off the
country following irregularities in undisclosed loans to the country in 2016.
Heavily
indebted Mozambique got cut off from multilateral and foreign donours such as
the International Monetary Fund (IMF) after the government admitted to 1.4
billion dollars of previously undisclosed loans in 2016.
indebted Mozambique got cut off from multilateral and foreign donours such as
the International Monetary Fund (IMF) after the government admitted to 1.4
billion dollars of previously undisclosed loans in 2016.
The country,
however, presented a restructuring plan to its commercial creditors in March.
however, presented a restructuring plan to its commercial creditors in March.
Nyusi said his
country had begun dialogue with the creditors and “we are looking at what
should be done, naturally this is a complex process.
country had begun dialogue with the creditors and “we are looking at what
should be done, naturally this is a complex process.
“It is a
complex process because it is not only Mozambique that should be seen as a
culprit, this loan was from a certain place. Due diligence should have been
done, so this is a responsibility that should be shared,” he said
complex process because it is not only Mozambique that should be seen as a
culprit, this loan was from a certain place. Due diligence should have been
done, so this is a responsibility that should be shared,” he said
