Mozambique Weighs Asking China to Rework Debt, President Says

Mozambique Weighs Asking China to Rework Debt, President Says

Cash-strapped Mozambique is open to asking China to restructure the $1.4 billion it owes its biggest bilateral creditor, President Daniel Chapo said.

Mozambique Seeks China Debt Relief as EM Stress Fuels Crypto Hedge Talk

Mozambique is weighing whether to ask China for help in restructuring a $1.4 billion loan,  President Filipe Nyusi said during a recent visit to Beijing. “Discussions are on the table,” Nyusi said, referring to the possibility of renegotiating the loan terms.  The debt was taken between 2018 and 2020 for infrastructure development. It has become harder to manage amid rising global interest rates and a weakening metical. Now, with rising global r…