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Cleaning Up Mozambique's Financial Mess

Feb 3, 2017 | 09:15 GMT
Mozambique's financial quagmire could jeopardize the reign of the Mozambique Liberation Front (Frelimo) or President Filipe Nyusi (C).
Mozambique's financial quagmire could jeopardize the reign of the Mozambique Liberation Front (Frelimo) or President Filipe Nyusi (C).
(GIANLUIGI GUERCIA/AFP/Getty Images)

Mozambique's financial difficulties intensified when investigations revealed that proceeds from the sale of $850 million in bonds issued in 2013 to finance tuna fishing were instead used to buy military equipment, unleashing criticism from international investors. Then in April 2016, the government in Maputo admitted that it had secretly taken out almost $1.4 billion in loans and that much of that sum had been siphoned off....

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