Mozambique to default on another bond repayment

JOHANNESBURG, July 17 (Reuters) – Mozambique will default on another Eurobond repayment due this week due to economic and fiscal problems that gives the state “extremely limited” capacity to repay any money this year, the finance ministry said on Monday.

READMozambique default on eurobond was unnecessary

The repayment on the 2023 Eurobond – the disastrous $850 million ‘tuna bond’ – had been due on July 18.

http://cnbc.africa/news/southern-africa/2016/05/24/mozambique-heads-for-default-after-missing-loan-repayment-deadline/

(Reporting by Ed Cropley; Editing by Joe Brock)

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