If the cash-strapped authorities don't settle an U.S.$80 million debt to South Africa's electricity utility, Eskom, by the end of May, massive load-shedding could begin. Read more »
This year, Mozambique, which had a GDP of $15 billion in 2015, began to default on debt repayments. Public opinion has heaped the blame squarely on Guebuza, a two-term president ... Read more »
The government has expressed fears that the high rate of people defaulting on loan repayments in the first quarter of 2017 will derail the country's economic growth. Read more »
Parliament has legalised the remainder of the U.S.$2 billion secret loans and accepted them as legitimate government debt before the completion of a forensic audit, in a move that ... Read more »
Economy and Finance Minister Adriano Maleiane has defended the feasibility study which was used to justify the U.S.$2 billion in secret loans, reports Mozambique News Reports And ... Read more »
President John Magufuli had directed the Tanzania Electric Supply Company to disconnect power to all defaulters owing huge sums, including the Zanzibar government. Read more »
The country's former Finance Minister, Ezra Suruma, says the international bank forced the government to sell its bank, Uganda Commercial Bank, in a push for privitisation, write ... Read more »
The loan proposal by President Muhammadu Buhari that was for the implementation of infrastructure, agriculture, health, education, water supply and employment generation, was ... Read more »
The government guarantees have been described as unconstitutional, and the controversial loans should have been standard loans to the three implicated private companies. Read more »
Mozambique's economic crisis is likely to get worse before improving, and longer-term stability is unlikely, warns the World Bank. Read more »
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