The President of the Republic of Mozambique, Daniel Chapo, has said that Portugal is showing openness to agreements that would allow part of Mozambique’s sovereign debt to be converted into projects for the development of a green economy. This will be one of the central matters to be discussed during his official visit to Lisbon, scheduled for this week.
“There is openness. There is openness on the part of Portugal and other European Union countries, and we believe this is extremely important. On the one hand, to ease the pressure on the State budget caused by the weight of sovereign debt; on the other, to create fiscal space that allows us to invest more and develop Mozambique”, Chapo declared in an interview with the Lusa news agency in Seville.
The remarks were made on the sidelines of the 4th United Nations International Conference on Financing for Development, an event running from Monday to Thursday in the Spanish city. During the meeting, Mozambique has sought to establish international understandings for the conversion of external debt into sustainable investments. According to the head of state, “there are prospects” in this regard.
“Encouraging discussions are under way. There are as yet no concrete answers or defined projects, but the most important thing is that the world has understood the message conveyed at this conference”, Chapo stressed.
After his stop in Seville, the Mozambican President will travel to Lisbon for official meetings with the President of the Republic, Marcelo Rebelo de Sousa, and the Prime Minister, Luís Montenegro.
“Our aim is to continue these conversations”, the Head of State added, referring to the agreements relating to debt conversion and the potential use of carbon credits – a global mechanism for reducing polluting emissions.
Chapo highlighted the “fraternal ties” that unite Mozambique and Portugal, recently reinforced during the celebrations of the 50th anniversary of Mozambican independence, on 25 June, an occasion at which Marcelo Rebelo de Sousa was present in Maputo.
“It is a very strong sign of brotherhood and excellent cooperation between Mozambique and Portugal. And we want to consolidate this new approach, with climate funds for the green economy and also through the possible swap of sovereign debt, or mechanisms related to carbon credits”, he said.
Beyond environmental issues, the official visit aims to strengthen the bilateral relationship. “Portugal and Mozambique have a shared history. Even during the colonial period, our peoples shared an enemy – the fascist and dictatorial regime that fell in 1974”, the President recalled.
“We have always been brother peoples”, he said, adding that he wishes to intensify ties of friendship and cooperation, as well as economic, social and political relations. “We want to develop Portugal, to develop Mozambique, and to create better living conditions for our peoples”, he concluded.
