5.3.21Net cash and cash equivalent

31 December 2016

31 December 2015

Cash and bank balances

415

260

Short-term investments

489

255

Cash and cash equivalent

904

515

Bank overdrafts

-

-

Net cash and cash equivalent

904

515

The cash and cash equivalents dedicated to debt and interest payments (restricted) amounts to US$ 221 million (2015: US$ 159 million). Short-term deposits are made for varying periods of up to one year depending on the immediate cash requirements of the Company and earn interest at the respective short-term deposit rates.

The cash and cash equivalents held in countries with restrictions on currency outflow (Angola, Brazil, Equatorial Guinea and Nigeria) amounts to US$ 45 million (2015: US$ 38 million).

Further disclosure about the fair value measurement is included in Note 5.3.29 ‘Financial Instruments – Fair values and risk management’.