Massive Debt Revelation Another Blow to Mozambique’s Economy

View of the Port of Maputo, Mozambique, Aug. 15, 2006 (Flickr photo by Julien Legarde, licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic).
View of the Port of Maputo, Mozambique, Aug. 15, 2006 (Flickr photo by Julien Legarde, licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic).
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Mozambique’s government was recently revealed to have borrowed $1.4 billion in previously undisclosed loans. In an email interview, Fernanda Massarongo Chivulele, a researcher at the Institute of Social and Economic Studies in Maputo, discussed the loan scandal and the fallout for Mozambique’s politics and economy. WPR: What is the background of Mozambique’s debt crisis, and what are the immediate consequences and implications for the donor-dependent government budget? Fernanda Massarongo Chivulele: Mozambique was taken by surprise by an April report in The Wall Street Journal about the existence of an undisclosed loan to the government in 2013, around the same time […]

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