China
was Mozambique’s largest creditor country at the end of 2017, with loans
totalling US$1.8 billion, according to the Report and Opinion of the
Administrative Tribunal on that year’s State General Account.Mozambique’s debt
to China at the end of 2017 accounted for 38.3% of total debt to other
countries, with a large part of the borrowing from state-related projects
launched during the second term of President Armando Guebuza.
The
Administrative Court report, which does not include recent debt taken on for
the construction of Xai-Xai airport, added that from December 2016 to December
2017 Mozambique’s debt to China increased by US$200 million.
Mozambican
newspaper A Verdade, quoting the report’s findings, noted that the repayment
terms of these loans, which are “seemingly uninterested and only require that
companies from China carry out the works,” are a “great mystery.”
The
National Stadium of Zimpeto, the new Mavalane airport, the new Presidency
building, the Circular Road and the Maputo-Katembe bridge are some of the
facilities negotiated during Guebuza’s second term.All of these projects have
resulted in Mozambique’s debt to China rising from US$342 million in 2012/2013
to US$1.6 billion when Filipe Nyusi was sworn in as President of the Republic.The
Administrative Tribunal’s report also showed that the debt increase in 2017 was
due to the registration of the US$156 million loan negotiated by Armando
Guebuza for the process of analogue to digital migration of the television and
telephone networks that has a rate of interest of 2.0% and a a repayment period
of 20 years, with a seven-year grace period.
China
was, however, only the second largest individual lender to Mozambique, with the
first place occupied by the International Development Association (IDA), a
World Bank institution, which provided loans totalling US$2.5 billion.
Mozambique’s
bilateral public debt totalled US$4.8 billion at the end of 2017, and the third
largest creditor was Portugal, with US$640 million, followed by Libya, US$232
million, France, US$213 million, Iraq, US$211 million and South Korea, US$201
million.Mozambique’s total public debt amounted to US$10.3 billion, with
external debt accounting for US$8.7 billion of that total.
0 comentários:
Post a Comment