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’.