Debt to be written off

The main countries to which Mozambique owes money have agreed to reschedule the country's international debt, the BBC reported on Monday. The report quoted a spokesman from the Export Credit Guarantee Department (ECGD) within the British government as saying that a total of 90 percent of Mozambique's credit stock would be written off. Mozambique's external debt is estimated to be about US $5.5 billion. New deep river port to be built Mozambique plans to build a new deep river port and ocean terminal at Ponta Dobela 70km south of Maputo, PANA reported on Monday. The total investment is expected to be around US $500 million, over a maximum period of six years. According to news reports the project is expected to provide employment to about 2,500 people during the construction phase and the zone itself about 10,000 jobs in the first ten years of operation. Possible December date for the election An independent multiparty elections panel has proposed December 3 or 4 for national elections, news reports said on Monday. Elections were originally scheduled to take place in October, but the date was pushed back, after delays in the registration process. Reports quoted Maria Macuacua, the electoral commission spokeswoman as saying that the early December had been chosen to avoid the rainy season later in December. According to the commission less than half the population are thought to be eligible to vote. A two-month registration period began on 20 July and according to the spokeswoman about 8.4 percent of the eligible voters registered during the first week.