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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 ...
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.
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.
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Mozambique's new President Daniel Chapo has been sworn in at a low-key ceremony in the capital, Maputo, that was marred by an opposition boycott following heavily disputed elections. In his first ...
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 ...
Manuel Chang (Chinese: 曼努埃尔·郑; [1] born 22 August 1955 in Gaza Province) is a Mozambican economist and former politician of the FRELIMO party. From 2005 to 2015 he served as the Minister of Economy and Finance in the cabinet of President Armando Guebuza.