Mozambique: Fitch Believes Mozambique Presents ‘Substantial Risks’

Maputo — The Fitch ratings agency, based in both New York and London, believes that the Mozambican state still presents “substantial risks’ as a result of its high public debt.

As a result of these indicators, the agency decided, on Friday, to keep Mozambique’s rating at CCC+, three levels above Default.

“This reflects high levels of public debt, weak management of public finances, low GDP per capita, weak external finances, weak governance indicators and a challenging security situation’, reads…