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.
Ndabi Guebuza, the oldest of Armando Guebuza's four children, was picked up from his home in the capital Maputo in a legal crackdown on suspects linked to a $2-billion government ... Read more »
While the Mozambique undisclosed loans saga unfolds in domestic and international courts, there are growing indications that the scandal risks spilling over into Angola, where ... Read more »
The FBI has over a million pages of transcripts of phone calls, e-mails, bank transfers and other financial documents, which will be introduced as evidence in the case of ... Read more »
Former Mozambican finance minister Manuel Chang has had his bail application postponed to January 18 by the Kempton Park Magistrate's Court. The postponement was granted to give ... Read more »
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