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Aeroportos de Moçambique Is the Country’s Largest Debtor

Aeroportos de Moçambique Is the Country’s Largest Debtor

The Ministry of Economy and Finance reveals that the company Aeroportos de Moçambique is the state’s biggest debtor, as a result of a loan taken out with the Brazilian National Bank for Economic and Social Development (BNDES) to finance the construction of Nacala Airport.

The debt currently stands at 147.56 million dollars and makes the Brazilian bank the largest creditor of the State Business Sector (SEE), holding more than 50 per cent of the entire Mozambican foreign debt portfolio.

The state took over ADM’s debt around four years ago because ADM was struggling to meet its commitments. And ADM’s debt has been the main factor in the imbalance of the SEE’s credit position.

The economic supplement to Notícias reports that ADM’s loan contributed greatly to the 3.2 per cent increase, around 163.6 million dollars, in the overall volume of external delays in the SEE’s repayments to its creditors.

In the case of ADM, the backlog is 147 million dollars; TMCEL has a backlog of 16 million US dollars.

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