Mozambique - 03

Mozambique: Fuel Supply Risks: Post-Default Scenarios

The negative fallout from the Mozambican government’s admission on 26 October that it cannot repay its debt was predictable: Moody’s announced that the proposed debt restructuring is “negative from a credit point of view,” and interest on the country’s public debt has skyrocketed to 21.5%. By this measure, Mozambique is now riskier than Venezuela for investment. While the debt crisis will continue to unfold in relatively slow motion, there are other more immediate concerns for IOCs, operators and investors. The most pressing of these is fuel security.


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