Maputo, Aug. 10, 2026 (Lusa) - In the first week of August, Mozambique completed two further Treasury Bond swap issues, raising 1.845 billion meticais (€25.2 million), according to information from the stock market to which Lusa gained access on Monday.
According to data from the Mozambique stock market, the two transactions were completed on 6 August and were aimed at exchanging Treasury Bond issues maturing in 2026.
The first of these issues, the eighth this year (OT-2026-S8), provided for direct subscription by Specialised Treasury Bond Operators (OEOT) of a maximum amount of 4.192 billion meticais (€57.3 million), in an Exchange Auction for the 2022 Treasury Bonds – 7th Series.
Of that total, an amount of almost 1.027 billion meticais (€14 million) was placed in the OT-2026-S8.
The second transaction, on the same terms, with a maturity date of 6 August 2031, was aimed at swapping liabilities of up to 2.126 billion meticais (€29 million) through the new issue (OT-2026-S9). Of this total, 818.6 million meticais (€11.2 million) were placed, according to the same data.
According to figures compiled by Lusa since the start of the year, these Treasury Bond (OT) swap operations now total 39.770 billion meticais (€544.2 million) for 2026.
These auctions, all conducted through the Mozambique stock market, have enabled the government to swap debt maturing this year for new debt with longer maturities and interest rates of around 13%.
Mozambique plans 18 OT issues in 2026, totalling 34.2 billion meticais (€467.9 million), and nine swap operations for issues maturing this year, amounting to a total of 45.7 billion meticais (€625.2 million).
According to a decree from the Ministry of Finance, the «Treasury Bonds – 2026» issues will be conducted through the Mozambique stock market.
«Under this decree, the issuer may carry out neutral transactions, that is, transactions to manage its liabilities in Treasury Bonds through exchange auctions or repurchase agreements, without reducing the fixed issuance limit, without prejudice to the Issuance Calendar,» the document states.
The document adds that, «to allow flexibility in the management of the Treasury Bond portfolio, re-auctions may be introduced, without prejudice to the defined Issuance Calendar».
The swap auction calendar for «2026 Treasury Bonds» includes four issues from 2021, four from 2022 and one from 2023, all due to mature this year.
The minister of finance, Carla Loveira, stated on 29 October that the sustainability of public debt is «one of the greatest challenges» facing the Mozambican economy, and that «reforms» are underway to ensure its sustainable management.
The government has engaged the US firm Alvarez & Marsal to «assist in drawing up the public debt restructuring plan» and to «provide support in drafting the 2026–2029 Public Debt Strategy».
PVJ/AYLS // AYLS
Lusa
