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Vol 58 No 3

Published 3rd February 2017


Mozambique

Artfully dodging debt

A growing faction in the governing Frente de Libertação de Moçambique (Frelimo) favours repudiating its US$2 billion in questionable secret loans. It wants those responsible for the loans, used to buy military equipment and tuna trawlers which have barely sailed, to be held accountable. Part of the argument rests on the contention that the sovereign guarantees given by former Finance Minister Manuel Chang for the three original loans were illegal, which could make them null and void.

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