Browsing: Politics & Economy

Hidden Debts dossier Bank of Mozambique governor Ernesto Gove refused to take questions on the hidden debts at a press conference on 21 July 2016. Photo © Timothy Haccius / Zitamar News
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Mozambique’s public prosecutor has named at least 17 people - including former finance minister Manuel Chang, and former central bank governor Ernesto Gove - who it says should face financial penalties for their part in the $2.2 billion debts borrowed on [...]

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Economy The offices of Mozambique's Prosecutor-General, the PGR, in Maputo. Photo © Tom Bowker / Zitamar News
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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 [...]

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Politics President Filipe Nyusi. Photo © Timothy Haccius / Zitamar News
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Renamo is to blame for the current impasse in the Mozambican peace process, president Filipe Nyusi said in his state of the nation address to parliament on Wednesday - saying the opposition party is expecting him “to do the impossible”.

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Economy Prime Minister Carlos Agostinho do Rosario and Finance Minister Adriano Maleiane in parliament on 3 May 2017.
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Mozambique should only pay sovereign bondholders $369 million of a potential $500m gas-linked bonus, the country’s finance minister told parliament last week - but his calculations only make sense if ExxonMobil’s planned LNG project does not go [...]

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Economy Finance minister Adriano Maleiane presenting the 2018 budget to parliament, 11 December 2017.
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IMF ‘encourages’ transparency over ‘hidden debts’, and says restructures must be consistent with achieving debt sustainability, poverty reduction, and sustainable development Mozambique will not offer a share of gas revenues to the holders of government-guaranteed syndicated debts [...]

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