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The “ tuna bond ” scandal that shook Mozambique's economy is washing into a U.S. court, where a former Mozambican finance minister is being tried on charges that he took bribes to commit his ...
In 1995 alone, Mozambique received $1.115 billion in aid. In 1999, the total external debt stood at $4.8 billion. Fortunately, in the same year significant economic recovery did occur, as the real GDP growth rate reached 10 percent. Today, the economy of Mozambique continues to be dominated by agriculture.
The tuna bonds scandal (also known as the tuna bond affair or the hidden debt scandal) refers to a debt scandal where the company Privinvest and its owner Iskandar Safa are alleged to have paid over $100 million in bribes to officials in Mozambique and to Credit Suisse for contracts and loans to develop Mozambique's fishing industry and improve maritime security.
8 August – A court in the United States convicts former finance minister Manuel Chang of plunder involving the acceptance of bribes through US banks for approving secret loans from 2002 to 2015 in what became known as the "Tuna bonds" scandal that left the Mozambican government with $2 billion in debt.
Mozambique's main opposition leader Venâncio Mondlane has called for unity ahead of a fresh round of protests against the outcome of presidential elections. In a live broadcast on his Facebook ...
MAPUTO (Reuters) -Mozambique's ruling party Frelimo has retained power in this month's national election, extending its five-decade rule in the Southern African state as the opposition accused it ...
Mozambique is located on the southeast coast of Africa and is bound by Eswatini to the south, South Africa to the southwest, Zimbabwe to the west, Zambia and Malawi to the northwest, Tanzania to the north and the Indian Ocean to the east. Mozambique lies between latitudes 10° and 27°S, and longitudes 30° and 41°E.
Jose Tembe - BBC News, Maputo. December 24, 2024 at 11:52 AM. Venâncio Mondlane has urged his supporters to protest peacefully [Reuters] Mozambique's main opposition leader, Venâncio Mondlane ...