Massive Debt Revelation Another Blow to Mozambique’s Economy

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).

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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