Browsing: Credit Suisse

Politics Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker  / Zitamar News
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Mozambique’s Prosecutor General of the Republic (PGR) said today that three government-guaranteed loans, taken out in secret to pay for coastal security equipment, violated Mozambican law and called for international cooperation to find out how the money [...]

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Economy An Ocean Eagle surveillance trimaran supplied to Mozambique under the EMATUM or ProIndicus deals. Photo: CMN
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  • Credit Suisse said in 2013 that a comprehensive Mozambique coastal security solution could be supplied for $372m
  • Project was to earn $700m in the first five years
  • Mozambique ended up spending $1.12 billion on coastal protection - and is yet [...]

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Economy Credit Suisse arranged the ProIndicus and EMATUM loans.
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The Mozambique government has offered EMATUM bond investors an interest rate of 10.5% per year on up to $585.5 million worth of new government debt, to be repaid in 2023. The bond will be offered in exchange for the existing $697 million in EMATUM bonds [...]

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Economy Maputo, capital of Mozambique. Photo: Zitamar News
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Credit rating agencies Standard & Poor’s and Moody’s yesterday downgraded Mozambique’s sovereign rating to CC on the expectation that the government’s attempt to restructure the outstanding $700 million of the controversial EMATUM debt will count as a [...]

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