6.3.21Net cash

Note

31 December 2015

31 December 2014

Cash and bank balances

260

469

Short-term deposits

255

5

Cash and cash equivalent

515

475

Bank overdrafts

6.3.27

-

(23)

Net cash

515

452

The cash and cash equivalents dedicated to debt and interest payments (restricted) amounts to US$ 159 million (2014: US$ 114 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$ 38 million.

Further disclosure about the fair value measurement is included in Note 6.3.29 ‘Financial Instruments – Fair values and risk management’.