A dívida pública interna mobiliária em Moçambique 1999-2007: evolução, estrutura e implicações económicas

Abstract

The present work studies the furniture segment of the Internal Public Debt in Mozambique in the period between 1999 and 2007. Specifically, it argues the need for a in-depth analysis of the emergence and growth of the Domestic Public Debt, with a special focus on its structure, some implications and costs that have been felt economy as a result of the existence of this debt. In general, it is a case study about Mozambique, with foundations in a in-depth bibliographic research, followed by the collection of published quantitative data and detailed documentary research, complemented by the use of descriptive statistics. From the analysis it was found that the evolution of the Public Internal Debt Securities, has been registering only in quantitative terms, having been caused by factors that are of great somewhat sporadic, exogenous, and non-structural; additionally, the debt shows a certain volatility, and some link and interdependence with monetary policy. It is also noted that the costs derived from contracting this debt have been shown to be significant in public charges, specifically on the service in terms of interest payable, whose fees may be linked to the fact that the debt creditors are only the banks and in small numbers, which may give them a certain monopoly power. Beyond moreover, in some years, it has absorbed a significant proportion of the resources financial resources available. Positively, a prudent debt management strategy and a debt-stimulating role can be suggested, given the lack of concentration in the period maturity and the fact that the securities derived from this debt are the main traded on the furniture market. (Nossa Tradução)