Mozambique Govt Takes Secret Debt Fight to London Court

President Filipe Nyusi's administration has filed a case in London's High Court against Credit Suisse over the bank's role in the country's "hidden debts". Credit Suisse was one of the lenders that helped arrange U.S.$2 billion in government-guaranteed loans that tipped Mozambique into a debt crisis that it is still struggling to recover from. This action follows an indictment in January by the U.S. Justice Department against three former Credit Suisse bankers, Mozambique's former finance minister and an executive at Abu Dhabi naval contractor Privinvest Group.

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