Russia writes off 95% of Mozambican debt
London, August 22, 2019(AltAfrica)-Russia has pardoned 95% of Mozambique’s debt, according to an announcement made by the President of the Republic, Filipe Nyusi at a meeting with Russian and Mozambican business people on Wednesday.
The second day of the Mozambican president’s visit to Russia began with a visit to Red Square, where Filipe Nyusi laid a wreath at the Tomb of the Unknown Soldier. He then visited the Vladimir Lenin Mausoleum, an occasion open to Russian veterans but not to the press.
Later in the morning, President Nyusi headed the opening of the Mozambique-Russia business forum involving 46 Mozambican businessmen and over 450 Russians counterparts.
It was at the business meeting that president Filipe Nyusi announced that Russia had set aside the Mozambican debt, going on immediately to invite the assembled participants to increase the volume of business between the two countries.
He expressed confidence that the economic sanctions imposed on Russia would be resolved and would not undermine trade relations with Mozambique.
Last year Russia exported just over US$115 million’s-worth of goods to Mozambique, but the CTA says trade between the two countries has potential for much more.
On Thursday, the Mozambican head of state will meet with his Russian counterpart Vladimir Putin in the Kremlin.