In a presentation to creditors released today, the government says that Mozambique's debt "is not sustainable" and full payments cannot be made until there are gas revenues after 2021. Furthermore "external debt exceeds all the IMF thresholds" which means that in IMF terms, "Mozambique is in 'debt distress'." It adds that "IMF discussions can only resume if Mozambique is no longer in 'debt distress' category" which means first renegotiating debt with other creditors, hopefully within two months.

The government also warns of "potential government interventions in [the] troubled domestic banking sector" and that "four key SOEs [state-owned enterprises] (M-Cel, LAM, Petromoc and EDM) are facing important financial challenges".

The government says that transparency is part of negotiations with creditors. The release of the presentation can be seen as part of that. The presentation (in English) is attached and is posted HERE.