Mozambique Weighs Swapping Dollar Debt for Yuan in China Talks

Mozambique is considering converting the $1.4 billion it owes China into renminbi loans as part of a debt restructuring with its biggest bilateral creditor, in line with similar moves by other African sovereign borrowers.

“This is usually a possibility that the cooperation partner raises,” the finance ministry said in response to questions at the weekend. “In this specific case, it was a valid possibility that was put on the table.”