Mozambique's Strategic Debt Management Overhaul

Mozambique has enlisted the expertise of Alvarez & Marsal, a French consulting firm, to manage its public debt crisis by 2025-2029. This initiative aims to restructure debt, improve risk profiles, and regain confidence in international markets amid challenges following a 2016 hidden-debt scandal.

Mozambique has taken a significant step to manage its mounting public debt by hiring France-based consulting firm Alvarez & Marsal, the government announced on Thursday.

The firm will work on implementing Mozambique's debt strategy for 2025-2029, with a focus on restructuring debt and enhancing the country's credibility with international financial markets.

Alvarez & Marsal's involvement follows a scandal in 2016 that hurt investor confidence, as well as delays in crucial gas projects that were expected to boost the nation's economic standing.

(With inputs from agencies.)