Mozambique’s constitutional court has declared void two loans totalling more than $1 billion at the heart of a “hidden debt” scandal that triggered a currency collapse and sovereign debt default, a court ruling showed.
Pope Francis, ending his visit to Mozambique, on Friday scolded political and business leaders in the resource-rich but poor East African country who allow themselves to be corrupted by outsiders.
Several non-governmental organisations in Mozambique on Saturday called on Credit Suisse to write off debt their government contracted with the Swiss bank
Mozambique’s former finance minister Manuel Chang is back at the Kempton Park Magistrate’s Court on Wednesday morning.
Mozambique has indicted 18 citizens for their involvement in fraud involving $2 billion in loans to state-owned companies, the attorney general’s office (AGO) said on Monday, in a scandal that has ensnared two major international banks.