Fabiao Mabunda told the court he used the money on behalf of Gregório Leão, former head of the Mozambican secret service SISE, to repay outstanding debts

The judge said that he expected the hearing to be completed within three months and that President Filipe Nyusi would be a “fourth party”

President Filipe Nyusi was the “prime mover” in the contracts between the Mozambican state and shipbuilder Privinvest that led to the so-called “hidden debts” scandal, a court in London heard on Monday

Mozambique's Attorney General has filed charges at a court in Maputo against former finance minister Manuel Chang, and three former central bank employees

Mozambique’s Constitutional Council has ruled the sovereign guarantees granted to Proindicus and MAM by finance minister Manuel Chang and head of treasury Maria Isaltina Lucas to be null and void, as they violated Mozambique’s constitution

Mozambique has paid its first ever sovereign eurobond coupon -- but is being sued for not honouring another sovereign guarantee of equally questionable legitimacy

Mozambique would have converted the $535 million MAM loan into sovereign debt if any Mozambican court had deemed the government guarantee for the MAM loan legal, finance minister Adriano Maleiane reportedly told VTB in 2018

Restructuring documentation seen by Zitamar contains an admission by Mozambique and its advisers that the EMATUM guarantee was never valid

Mozambique's finance ministry has not explained why it is refusing to honour the ProIndicus guarantee while restructuring the MAM loan

The IMF now assumes the sovereign guarantee to ProIndicus will not be honoured, and says an agreement with VTB regarding the MAM debt has already been reached in principle.