July 17, 2017 / 2:19 PM / 8 days ago

Mozambique to default on another bond repayment

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A fisherman cleans his boat beneath Maputo's skyline, in this picture taken August 15, 2015.Grant Lee Neuenburg/File Photo

JOHANNESBURG (Reuters) - Mozambique will default on another Eurobond repayment due this week due to economic and fiscal problems that gives the state "extremely limited" capacity to repay any money this year, the finance ministry said on Monday.

The repayment on the 2023 Eurobond - the disastrous $850 million 'tuna bond' - had been due on July 18.

Reporting by Ed Cropley; Editing by Joe Brock

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