A Year Since Mozambique's Shocker, Bond Talks Head Nowhere
- Murky state loans mean IMF wary of giving bailout, Exotix says
- Bondholder group says Mozambique has means to pay them back
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A year after Mozambique stunned investors by announcing a debt restructuring, talks with bondholders and the International Monetary Fund have led nowhere.
The gas-rich southern African nation has yet to start formal discussions, either with the investors who bought its $727 million of Eurobonds -- which the government defaulted on in January -- or the banks that provided about $1.4 billion of loans to two state companies. At least one local analyst who’s worked on previous sovereign restructurings in Africa says talks might not start until 2020.