Officials announced that Mozambique has nearly depleted its budgeted domestic borrowing, reaching 99.8% of the set limit. Following extreme weather and ongoing insurgency, which has hampered natural gas projects, the government’s financing is strained. Despite an IMF agreement last year, which granted them USD 456 mln over three years with debt limits, Mozambique’s domestic debt rose to USD 4.8 bln in July. The state has struggled with wage bills and experienced delays in servicing local-currency bonds due to administrative issues.