Mozambique President Meets Opposition Leader Mondlane for First Time
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Chapo and Venâncio Mondlane met Sunday night in the capital, Maputo, 'to discuss solutions to the challenges facing the country,' the presidency said in a statement posted to its website. S&P Global Ratings on Friday cut its assessment of the country's local-currency loans to 'selective default,' deeming a debt swap earlier this month to be distressed.
'The president of the republic's gesture of dialogue with Venâncio Mondlane symbolizes the will to build bridges and promote an open and constructive dialogue,' the presidency said. 'The willingness to discuss common solutions also represents a significant step forward in the search for a peaceful, united Mozambique committed to collective progress.'
The meeting is a significant step in Chapo's efforts to restore stability in the gas-rich nation. Mondlane orchestrated nationwide demonstrations after claiming Chapo's party stole the election that extended its five-decade rule. At least 361 people died in the demonstrations, most killed by police bullets, according to Decide Platform, a local rights group tracking the violence.
The economic fallout from the unrest worsened Mozambique's already tight finances.
'Mozambique's fiscal position remains weak as spending pressures continue to mount,' said S&P analysts including Giulia Filocca. 'A contentious socioeconomic backdrop will weigh on the government's efforts to consolidate its fiscal position.'
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