The Mozambique Stock Exchange (BVM) announced that this week the state placed 1.12 billion meticals (17.3 million dollars) in an internal issue of Treasury Bonds (OT) with a maturity of five years.
In a statement quoted by Lusa, the BVM explained that the operation took place on 19 November and that the proposals submitted by operators specialising in OT indicate that the ratio between demand and supply was 113.57%, with overall demand reaching 1.2 billion meticals (18.6 million dollars).
‘This issue of Treasury Bonds, which consisted of the second reopening of the 12th series of 2024, for direct subscription by specialised operators, authorised the placement of up to 1.12 billion meticals, with a nominal interest rate of 14.5% during the first four half-yearly interest payments and variable in the last six payments,’ said the entity.
This is the second operation of its kind this month, after the placement of 327 million meticals (5 million dollars) on 5 November, in an internal stock market issue of Treasury Bonds with a maturity of five years.
In that operation, the proposals submitted by operators specialising in OT indicate that the ratio between demand and supply was 37.1%, with overall demand reaching 1.4 billion meticals (21.7 million dollars).
This issue, for direct subscription by specialised operators, authorised the placement of up to 4 billion meticals (62 million dollars).
Recently, the Bank of Mozambique (BdM) warned of high pressure caused by the state’s internal indebtedness, which has already grown by 90.3 billion meticals (1.4 billion dollars) this year to 402.7 billion meticals (6.2 billion dollars).
‘The pressure on domestic public debt remains high. This, excluding loan and lease contracts and overdue liabilities, stands at 402.7 billion meticals, representing an increase of 90.3 billion meticals,’ said the central bank.
In a document released after the ordinary meeting of the Monetary Policy Committee (CPMO) on 30 September, the BdM added that international reserves are currently at comfortable levels.
‘Gross international reserves continue to grow and are at levels sufficient to cover more than five months of imports of goods and services,’ the document added.
