{"id":51101,"date":"2023-11-26T20:40:45","date_gmt":"2023-11-26T20:40:45","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-willing-to-convert-debt-into-climate-investment"},"modified":"2023-11-26T20:55:51","modified_gmt":"2023-11-26T20:55:51","slug":"government-willing-to-convert-debt-into-climate-investment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-willing-to-convert-debt-into-climate-investment","title":{"rendered":"Government willing to convert debt into climate investment"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mozambique. <\/strong><\/span>The Mozambican government has said it is willing to negotiate the conversion of debt into a financing mechanism for the \u201cclimate transition\u201d with Portugal, a source from the Ministry of Economy and Finance told Lusa on Friday.<\/p>\n<p>\u201cWe are receptive and available to evaluate with our partners the feasibility and possibility of converting the debt into a financing mechanism for the climate transition,\u201d said the source.<\/p>\n<p>Mozambique\u2019s exposure and vulnerability to the impact of climate change increase the country\u2019s interest in analysing this form of debt conversion with its cooperation partners, he added.<\/p>\n<p>\u201cIt\u2019s an approach that has been studied with various partners, and we can discuss it with Portugal as well,\u201d he emphasised.<\/p>\n<p>In June this year, the governments of Portugal and Cabo Verde signed an agreement that allows for the conversion of debt into investment to accelerate the climate transition and promote the green and blue economies in the African country.<\/p>\n<p>Mozambique owes Portugal around \u20ac675 million.<\/p>\n<p>The Mozambican state closed the third quarter with a public debt of 971.78 billion meticais (\u20ac14.25 billion), an increase of 5.1% compared to the end of 2022, according to official figures. \u201cThis worsening was largely influenced by the evolution of domestic debt, in a context of relative stabilisation of external debt,\u201d reads the report on the economic and social balance of the implementation of the budget from January to September 2023, to which Lusa had access.<\/p>\n<p>In the document, the Ministry of Economy and Finance stated that external debt remained practically unchanged until September, at 643.5 billion (\u20ac9.43 billion), while domestic debt grew by 16% compared to December, reaching 328.29 billion meticais (\u20ac4.81 billion) at the end of September.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mozambique\">Mozambique<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mozambique. The Mozambican government has said it is willing to negotiate the conversion of debt into a financing mechanism for the \u201cclimate transition\u201d with Portugal, a source from the Ministry of Economy and Finance told Lusa on Friday. \u201cWe are receptive and available to evaluate with our partners the feasibility and possibility of [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":51100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-51101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Government willing to convert debt into climate investment - 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