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NNA - Lebanon to partake in Euro-Arab World Summit in Athens
NNA - Lebanon will participate in the Euro-Arab World Summit titled 'Shared Horizons', organized by the Economic and Business Group...
NNA - Ambassador of Pakistan talks cooperation with NNA Director
NNA - Newly appointed Ambassador to Pakistan, Najib Dourani, on Monday paid an acquaintance visit to National News Agency Director,...
ATA - Albania agro-processing exports grow 18% in first half of 2018
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ATA - Klosi : Increased number of foreign tourists in October
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ATA - Government supports 668 businesses under employment fund
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ATA - Ahmetaj: Albania exports rise 15.3% year-on-year in September
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NNA - Greek Ambassador to Lebanon, Francisco Faros Ambassador tours archaeological sites in Anfeh
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NNA - Prime Minister-designate Saad Hariri sponsors signing of Bekaa water treatment agreement
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NNA - Journalist Talal Salman in lecture at AUB: 'Reflecting on the Lebanese press and its fight for survival'
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WAFA - سامريون يعلقون اصنافاً من الفواكه على عرش داخل منازلهم
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WAFA - طريق الطحان تقترب من نهايتها
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WAFA - بشارة: مشروع إدارة المالية العامة يهدف إلى تطوير قدرات مؤسسات دولة فلسطين
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NNA - Launching at the Grand Serail of the Airport expansion preparatory phase
NNA - Prime Minister-designate Saad Hariri participated this afternoon in part of a meeting held at the Grand Serail dedicated...
NNA - President of the Republic, Michel Aoun welcomes delegation of Lebanese Diaspora in Argentina
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NNA - Lebanon and Armenia closer than ever
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NNA - Le pape François s'entretient avec Le patriarche maronite, Béchara Boutros Rahi
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Ils ont tenu une réunion...
NNA - البرنامج التدريبي لفئة المكفوفين والمكفوفات تحضيرا لسباق ماراتون بيروت الدولي
وطنية - يتواصل تنفيذ حصص التدريب للبرنامج المخصص لفئة المكفوفين والمكفوفات الذي تدعمه جمعية "بيروت ماراتون" وبالتعاون مع جمعية "أبستريم"...
NNA - الرؤية الوطنية أطلقت حملة نظافة للشاطئ بالتعاون مع بلدية صور
وطنية - صور - قام حوالي 50 متطوعا بحملة نظافة للشاطئ في صور، تستمر ستة أيام، في خطوة تأتي ضمن...
Lusa - Business News - Portugal: Ryanair pays €5,500 to avoid plane lien
Porto, Oct. 22 (Lusa) – Ryanair paid on Monday €5,500 to stop a lie non one of its planes at...
Lusa - Business News - Portugal: Number of unemployed people drops by 17.1% in September
Lisbon, Oct. 22 (Lusa) – The number of unemployed people registered in Portugal’s employment services in September amounted to 338,935,...
EFE - Commemorative coin with poor likeness of Spain's princess Leonor goes on sale
Madrid, Oct 22 (efe-epa).- A special issue coin commemorating the 1,300th anniversary of the founding of the Iberian kingdom of...
CNA - Finance Minister to present Estia scheme to Parliamentary Committee of Finance
CNA - CYPRUS/Nicosia
Minister of Finance Harris Georgiades will present the ESTIA scheme to the parliamentary committee of...
Lusa - Business News - Angola: EIU warns privatisations should be 'managed well'
London, Oct. 21 (Lusa) – The Economist Intelligence Unit (EIU) on Monday said Angola’s plan to privatise dozens of state-owned...
Lusa - Business News - Angola: Fitch solutions revises up loan growth
London, Oct. 22 (Lusa) – London-based risk consultancy Fitch Solutions on Monday revised its estimates of growth of bank loans...
Lusa - Business News - Mozambique: Portugal's GSTEP wins public tender to improve data access of Mozambique
Lisbon, Oct. 22 (Lusa) - The Portuguese company GSTEP announced on Monday that it had won a public tender worth...
Lusa - Business News - Portugal: Resort with vegetation cover set to flourish in Castelo de Vide
Castelo de Vide, Portugal, Oct. 22 (Lusa) - A tourist project with 45 accommodation units covered in vegetation and incorporated...
Lusa - Business News - Portugal: Vila Nova de Gaia to introduce €2 a night tourist tax
Vila Nova de Gaia, Portugal, Oct. 22 (Lusa) - Vila Nova de Gaia is the latest city in Portugal to...
Lusa - Business News - Cape Verde: Finance minister unveils €64M budget
Praia, Oct. 22 (Lusa) – Cape Verde’s finance minister, Olavo Correia, said on Monday that next year’s €664 million budget...
Lusa - Business News - Mozambique: Driver's licence to be almost 8 times more expensive from November
Maputo, Oct. 22 (Lusa) – New prices that make the cost of a driver’s licence in Mozambique almost eight times...
Lusa - Business News - Mozambique: Monetary Policy Commitee of central bank gathers on Monday
Maputo, Oct. 22 (Lusa) - The Bank of Mozambique Monetary Policy Committee meets on Monday for the fifth time this...
HINA - Croatia's Red Cross collecting donations for 140 destitute people on its 140 anniversary
ZAGREB, Oct 22 (Hina) - The Croatian national society of the Red Cross (HCK) celebrated its 140th anniversary at...
CNA - Eurostat confirms 2017 Cyprus 1.8% budget surplus with 2nd notification data release
CNA - Athanasios Athanasiou - Luxembourg
Eurostat has confirmed Cyprus` 2017 budget surplus of +1,8% with today`s 2nd notification for government...
Lusa - Business News - Portugal: Bond yields down on Monday morning
Lisbon, Oct. 22 (Lusa) – Portugal's debt interest at around 8.40 a.m. on Monday in Lisbon was falling in every...
CNA - Industrial turnover in Cyprus up in first seven months of 2018
CNA - Cyprus/NICOSIA
Industria turnover in Cyprus recorded an increase in July and during the first seven months of this year,...
Lusa - Business News - Macau: Region bags €8.66B in gaming tax in first nine months
Macau, Oct. 22 (Lusa) - Macau raised €8.66 billion in tax revenue on gaming and gambling between January and September...
Lusa - Business News - Portugal: Public debt in 2017 totals 124.4% of GDP - Eurostat
Brussels, Oct. 22 (Lusa) - Portugal still has the third largest public debt in the European Union (EU) in 2017,...
CNA - DBRS views positively efforts in Cyprus to reduce NPLs
CNA - Cyprus/NICOSIA - International Rating Agency DBRS views positively efforts by the Cyprus government and the local banks to...
Lusa - Business News - Macau: Inflation rate totals 2.66% in September
Macau, China, Oct. 22 (Lusa) - The rate of inflation in Macau totalled 2.66% in the 12 months ended in...
Lusa - Business News - Mozambique: Metical remains stable against euro, dollar
Maputo, Oct. 22 (Lusa) - Mozambique's currency remained practically unchanged against the euro and the dollar in the last week,...
Lusa - Business News - Portugal: Lisbon stock exchange opens up by 0.45%
Lisbon, Oct. 22 (Lusa) - Lisbon's stock exchange opened on Monday up on the previous session, with the main index,...
Lusa - Business News - Portugal: Top headlines on Monday
Lisbon, Oct. 22 (Lusa) - The headlines in the Portuguese pres on Monday include the news that cancer secreening in...
Lusa - Business News - Mozambique: New debt regulations 'on right track' - African Development Bank




Lisbon, Aug. 9 (Lusa) – The country manager for Mozambique at the African Development Bank (AfDB), Pietro Toigo, has told Lusa that the government’s laws to regulate debt are on the right track, but warned that complying with the rules was vital.
Speaking the day after the AfDB released its Country Stategy Paper for 2018-2020 on Mozambique, Toigo said that the government in Maputo had “taken important measures to avoid new cases of secret indebtedness.”
According to the strategy paper, the bank will “address Mozambique’s development challenges, notably in rural areas where most of the population is dependent on subsistence agriculture and is disconnected from the centres of growth.”
The bank also said it would aim to improve debt-ridden Mozambique’s general business environment through investments and infrastructure.
Mozambique has faced financial turmoil since 2016 when it was revealed that the previous government had secretly guaranteed massive loans taken out by public enterprises. The discovery prompted the International Monetary Fund to suspend funding to the southern African nation.
Asked about mechanisms that are being applied to control bond issues by the state and by state-owned companies, Toigo highlighted the fact that there was a new legal framework in place for the issuance of public debt and that the role of the administrative court had been improved.
“The lack of access to international financial markets is certainly a constraint and the African Development Bank is working with the government to find a solution to the difficult loan terms,” he added.
Toigo also noted, however, that international market access was not the only way to impact the country’s development, pointing out that “international partners agree that it is important for Mozambique to manage to finance itself in a sustainable way” and “prepare itself for when the development of the gas sector will radically alter the economic structure” of the country.
According to the AfDB paper, Mozambique’s funding from the bank will be capped at $81 million between now and the end of next year because of its excessive public debt.

MBA/MWYP
Lusa


Agency : LUSA

Date : 2018-08-10 09:54:48







 

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