Mozambique Eyes Debt Talks After New IMF Program; Eurobond Slips

Mozambique will only start talks with creditors to renegotiate its debt after reaching an agreement on a new program with the International Monetary Fund, President Daniel Chapo said.

The gas-rich southeastern African country is in talks with the IMF on a new facility to stabilize the economy, curb its reliance on natural resources and restore investor confidence, Chapo said in a Bloomberg Television interview. He said a deal could follow a regular IMF mission in March.