Mozambique Finance Minister Adriano Maleiane met with creditors in London Tuesday to unveil a restructuring proposal he said the country needs to end fiscal deficits in the next five years. The proposal asks holders of about $2 billion in loans and bonds to accept debt reductions and to delay repayment until as late as 2034. Bondholders, who have been waiting for an offer since the country defaulted in January 2017, said they were disappointed.

Source: Wall Street Journal March 20, 2018 23:15 UTC