World Bank Says Mozambique Deficits Risk $50 Billion LNG Project
News Source : Financial Post
News Summary
- The public wage bill and debt servicing consumed 87% of tax revenue last year.
- At the same time, poverty levels are growing in a nation that already ranks as the world’s second-poorest.
- TotalEnergies SE in January announced the full resumption of its $20 billion Mozambique liquefied natural gas project, after a near five-year halt because of attacks by Islamic State-aligned militants.
- Exxon Mobil Corp. plans an even bigger project alongside it, and the Mozambican government expects a final investment decision in the coming months.
(Bloomberg) The World Bank warned Mozambiques current economic trajectory puts at risk the $50 billion in gas projects the government is counting on to help bolster its flagging economy, in one of th [+3563 chars]
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