China has extended the grace period for Mozambique to repay US$2.02 billion in debt, Stelia Neta, the deputy national director of the Mozambique Finance Ministry, told financial news agency Bloomberg.
China agreed to the extension last year and forgave another US$34 million of debt, Ms Neta was quoted as saying. India has also extended the grace period for the African country to repay US$177.3 million, the report said. “The credit maturities of China and India [debt] range from 2028 to 2033,” she added.
Mozambican Prime Minister Carlos Agostinho do Rosário unveiled the restructuring agreements with China and India last month, saying the deals could free up resources to finance government priorities.
