The Mozambican government is working to find a solution to pay civil servants’ salaries for April, which were due last week, after failing to borrow MZN 3 billion from the domestic banking system. The Ministry of [...]
The Bank of Mozambique’s Monetary Policy Committee decided today to keep all its reference interest rates stable. The MIMO policy rate remains at 14.25%, the deposit rate remains 11.25%, and the lending rate remains 17.25%.
The Mozambique government intends to disregard the sovereign guarantee it signed on the $622 million loan for offshore security company ProIndicus, and let it go bankrupt - but has reached an agreement in principle to restructure a similar loan made to ProIndicus’ sister company MAM, the [...]
The finance ministers of Mozambique, Zimbabwe, and Malawi will outline their countries’ needs in the wake of Cyclone Idai at a round-table meeting hosted by the World Bank in Washington, DC, later today, attended by the UK government’s minister of [...]
Mozambique is calling for a British court to rule the guarantee granted by the Ministry of Finance to the offshore security company ProIndicus illegal, the office of the Prosecutor-General (PGR) said on Friday. The country also wants to be compensated, with interest, for all losses it has [...]
The head of Mozambique’s Bar Association says the Association will do everything it can to have the debts ruled illegal or ‘odious’
A criminal indictment in the US over Mozambique’s $2.2 billion hidden debt scandal will affect negotiations between the Mozambican government and the holders of the loans that financed the deals, Prime Minister Carlos Agostinho do Rosário said yesterday. The [...]
Mozambique’s Prosecutor-General (PGR) today accused the United States of failing to cooperate with the Mozambican investigation into the $2.2 billion ‘hidden debts’ scandal which it opened in 2015, saying its investigation is in part dependent on help from the US [...]