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# Mozambique 25 Jan 2017: Default debates
- URL: https://www.zitamar.com/mozambique-25-jan-2017-default-debates/
- Published: 2017-01-25T00:00:00.000Z
- Updated: 2017-01-25T00:00:00.000Z
- Author: Zitamar Ltd
- Tags: Newsletter, #substack, #substack-type-newsletter, #substack-access-everyone, #Import 2023-04-06 20:43

![](https://storage.ghost.io/c/f8/24/f824d293-9bb2-4c56-8f85-7a9e686fb0d9/content/images/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https-3a-2f-2fsubstack-post-media.s3.amazonaws.com-2fpublic-2fimages-2fe7013b4c-97e0-4c0c-9d3a-1b3aca60dee3_273x103.jpg)

Good afternoon. We start with a reminder about today's live webinar discussing Mozambique’s debt crisis, which begins at 3pm Maputo time, 1pm London, and 8am New York. A panel of four experts will join *Zitamar News* editor Tom Bowker to discuss how Mozambique got into its current predicament - and how it might get out of it.

**[Zitamar News and Africa Research Institute present: A Webinar on Mozambique’s Debt Crisis](https://www.youtube.com/watch?v=h62LLithnV4&ref=zitamar.com)**

There has been a slight alteration to the line-up - Marco Ruijer has had to pull out, but has been replaced by Tariq Hamoodi of London-based investment firm Bybrook Capital. Like Marco, Tariq has first-hand experience of Mozambique’s debt, and is a veteran of sovereign restructurings in Greece and Ukraine.

Mozambique’s attempted restructuring remains in the headlines this week, with the bondholder committee issuing a statement on Monday condemning what they call the government’s “strategic” decision to default a week ago - an assessment that will no doubt be discussed further in this afternoon’s webinar.

**SEE: [Mozambique bondholders condemn ‘strategic’ default](http://zitamar.com/mozambique-bondholders-condemn-strategic-default/?ref=zitamar.com)**

Back in Mozambique’s domestic banking sector, the shareholders of Moza Banco have decided to pump in 8 billion meticais to recapitalise the bank - the same amount as the central bank used to keep it afloat following its liquidity crisis in September.

**SEE: [Moza Banco shareholders agree 8bn MZN recapitalisation](http://zitamar.com/moza-banco-shareholders-agree-8bn-mzn-recapitalisation/?ref=zitamar.com)**

Turkish President Recep Tayyip Erdoğan was in Maputo yesterday, along with 150 businesspeople and a muscular security presence. He told a business forum he wants Turkey-Mozambique trade to hit $1bn per year by the end of this decade - and said ministers are working towards new trade and taxation agreements.

**SEE: [Turkey’s Erdoğan calls for exponential trade growth with Mozambique](http://zitamar.com/turkey-erdogan-exponential-trade-growth-mozambique/?ref=zitamar.com)**

China’s state-owned CNPC is now the only partner left in the Eni-led Area 4 consortium to formally approve investment in the floating LNG project for the Coral field, after the board of Korea Gas gave the green light.

**SEE: [Korea Gas approves investment in Eni-led FLNG project](http://zitamar.com/mozambique-korea-gas-eni-flng-coral-south/?ref=zitamar.com)**

Mozambique’s state-owned ports and railways company, CFM, has a new chairman to replace the man who was nominated deputy governor of the Bank of Mozambique between Christmas and New Year.

**SEE: [New head for Mozambique ports and railways company](http://zitamar.com/new-head-mozambique-ports-railways-company/?ref=zitamar.com)**

And in Songo, Tete, a three-day meeting starts today between the managers of the Cahora Bassa dam and their counterparts in Zimbabwe and Zambia who manage Kariba dam. They need a joint strategy to deal with the effects of the drought, and the challenges of sustainable river management going forward.

**SEE: [Cahora Bassa and Kariba dam companies meet to discuss low Zambezi level](http://zitamar.com/cahora-bassa-kariba-dam-companies-meet-discuss-low-zambezi-level/?ref=zitamar.com)**

Join us at 3pm (Maputo) for our webinar, by following this link: [https://www.youtube.com/watch?v=h62LLithnV4](https://www.youtube.com/watch?v=h62LLithnV4&ref=zitamar.com)

And have a great week.

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- [Turkey’s Erdoğan calls for exponential trade growth with Mozambique](http://zitamar.com/turkey-erdogan-exponential-trade-growth-mozambique/?ref=zitamar.com)
- [Moza Banco shareholders agree 8bn MZN recapitalisation](http://zitamar.com/moza-banco-shareholders-agree-8bn-mzn-recapitalisation/?ref=zitamar.com)
- [New head for Mozambique ports and railways company](http://zitamar.com/new-head-mozambique-ports-railways-company/?ref=zitamar.com)
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