Browsing: Ernesto Gove

Kroll Report 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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Politics & Economy IMF Managing Director Christine Lagarde 
Photo © IMF
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IMF Managing Director Christine Lagarde yesterday welcomed Mozambique president Filipe Nyusi's willingness to implement an independent, international audit of the $2 billion in government-guaranteed loans taken out by Mozambican fishing and security firms ProIndicus, EMATUM, and MAM. [...]

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Finance Rogério Zandamela at his swearing-in ceremony, 1 September 2016. Photo © Simon Kamm / Zitamar News
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Rogério Zandamela on Thursday was sworn in as new governor of Mozambique’s central bank, saying he was determined to do his part to restore the country’s credibility, and regain international confidence in the Mozambican economy. “It will require hard work [and] enormous sacrifices in order [...]

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Economy 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 central bank governor denied knowledge of ProIndicus - and now refuses questions on EMATUM
  • IMF source said denial is “hard to believe”
  • S&P puts Mozambique rating on ‘outlook negative’ but says default may not be imminent
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Aid The Bank of Mozambique seen behind a dilapidated building in Maputo's downtown. © Nuno Rosario via Flickr
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More than $1 billion in hidden state borrowing, which has plunged Mozambique into an unprecedented economic crisis, did not merit a mention in the Bank of Mozambique’s latest evaluation of the country’s economy published on 13 May – despite the central [...]

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