{"id":17864,"date":"2022-04-14T14:45:52","date_gmt":"2022-04-14T14:45:52","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/steps-being-taken-by-government-are-sure-way-out-of-excessive-debt-african-development-bank"},"modified":"2022-04-14T14:58:37","modified_gmt":"2022-04-14T14:58:37","slug":"steps-being-taken-by-government-are-sure-way-out-of-excessive-debt-african-development-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/steps-being-taken-by-government-are-sure-way-out-of-excessive-debt-african-development-bank","title":{"rendered":"Steps being taken by government are sure way out of excessive debt \u2013 African Development Bank"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The vice president of the African Development Bank (ADB) for economic governance and knowledge management on Thursday expressed confidence in Mozambique\u2019s ability to control public debt, recognising that pressure factors prevail on the country\u2019s burden.<\/p>\n

\u201cThe steps being taken by the [Mozambican] government are a sure way out of [excessive] debt,\u201d said Kelvin Urama, speaking to journalists at the end of his visit to the country this week.<\/p>\n

Urama pointed to the implementation of policies conducive to inclusive economic growth, reform of the public finance management system, mobilisation of revenues and stimulating domestic and foreign private investment, as well as other types of financial flows as conditions for debt sustainability.<\/p>\n

Mozambique\u2019s public debt position, he continued, is not unique because several countries face shocks and vulnerabilities that increase their exposure to over-indebtedness.<\/p>\n

\u201cThe world has faced several setbacks in terms of risks and shocks, including Covid-19 and climate change,\u201d which exacerbate the spiral of public debt, he stressed.<\/p>\n

In this sense, Urama continued, controlling debt \u201ctakes time and does not happen overnight\u201d.<\/p>\n

According to IMF data, Mozambique\u2019s public debt to GDP ratio rose from 64.3 percent in 2014 to 120 percent in 2016 and has remained above 100 percent since then, and is expected to end this year at 127.6 percent, the third highest in sub-Saharan Africa, after Eritrea and Cabo Verde.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The vice president of the African Development Bank (ADB) for economic governance and knowledge management on Thursday expressed confidence in Mozambique\u2019s ability to control public debt, recognising that pressure factors prevail on the country\u2019s burden. \u201cThe steps being taken by the [Mozambican] government are a sure way out of [excessive] debt,\u201d said […]<\/p>\n","protected":false},"author":84,"featured_media":17863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-17864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nSteps being taken by government are sure way out of excessive debt \u2013 African Development Bank - 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