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Vol 56 No 8

Published 17th April 2015


Nyusi finds the cupboard bare

The new President's team has found a huge hole in government finances. A frantic hunt is on for hundreds of millions of missing dollars

President Filipe Nyusi's new era – a decisive break with the policies and personalities of ex-President Armando Guebuza – has begun with an apparent financial disaster. His officials report that the Treasury has far less money than had been expected. One unofficial but conservative estimate put the shortfall at about US$900 million, much of it anticipated tax revenue from oil companies which may have been illegally waived.

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