Mozambique’s dollar bond experienced a decline for the third consecutive day on Wednesday.
Tradeweb data revealed the bond’s price fell as concerns about public unrest persisted.
The country’s only eurobond, maturing in 2031, dropped 0.54 cents to 84.92 on the dollar.
This decline represents a loss of over two cents since Friday.
Full results from Mozambique’s national election on October 9 are anticipated this week.
However, opposition candidates have alleged that the election was rigged, raising tensions.
Violence erupted over the weekend when gunmen killed an opposition lawyer and party official in Maputo.
Police responded to protests with tear gas and live ammunition, escalating the situation.
Kevin Daly, a portfolio manager at abrdn, noted that the 2031 eurobond has suffered due to election-related violence.
He also mentioned a broader selloff of Sub-Saharan African bonds, attributed to rising U.S. Treasury yields.
Economist Jamie Fallon indicated that the funeral of the slain opposition figures may trigger further protests. Mozambique is facing significant financial
