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Vol 62 No 22

Published 4th November 2021


Probe focus shifts to Nyusi

The US authorities have fined the two foreign banks in the tuna bond scam. Now Maputo's politicians are in the frame in court

Five years after Mozambique's economy sank into a quagmire of bad debt, Credit Suisse faces at least US$747 million of penalties for its part in the country's $2 billion hidden loans scandal. Critics say the punishment is too light, but the fallout from the so-called 'tuna bonds' is far from over for the Swiss bank – and for Mozambique's President, Filipe Nyusi, and others in the political elite.

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