Wednesday, 09 May 2007

Mozambique says no new borrowing despite disasters

(Reuters) - Mozambique will not borrow extra funds to boost a budget under pressure from the need to rebuild infrastructure hit by heavy flooding, cyclones and a devastating armoury blast, its finance minister said on Wednesday.

Manuel Chang said the southern African country's 2007 budget would be effected by spending on reconstruction following a series of disasters in the first few months of the year, including powerful storms that caused widespread damage.


Read more at Reuters Africa

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