Business news feedMozambique says will not pay bondholders on Jan. 18

Mon,20Nov2017

Posted on Monday, 16 January 2017 09:36

Mozambique says will not pay bondholders on Jan. 18

January 16, 2017, 11:36 am

JOHANNESBURG (Reuters) - Mozambique will not make a Jan. 18 payment to holders of its 2023 bond because of its deteriorating economic and fiscal situation, the finance ministry said on Monday. The southern African nation, whose total foreign obligations are roughly equivalent to its GDP, said its financial difficulties made its ability to repay debt this year "extremely limited".(Reporting by Ed Cropley; Editing by Joe Brock)



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