Browsing: Tribunal Administrativo

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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Economy The Bank of Mozambique. Photo © Timothy Haccius / Zitamar News
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The government borrowed nearly $200 million from the Bank of Mozambique in three separate loans in 2016 to cover repayments on the EMATUM bonds and ProIndicus syndicated loan, according to a recently released audit of the government’s accounts from that [...]

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Economy EMATUM's fishing boats rusting in Maputo harbour. Photo © Timothy Haccius / Zitamar News
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Credit rating agency Moody's today said Mozambique’s default on three government-guaranteed loans for maritime security firms “will result in sizeable losses for private creditors”, which could be exacerbated by the government’s attempts to please the [...]

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