Mozambique: Unresolved debt problems plague economic outlook

Issue 329 - 05 Aug 2016
The extent of debt, governance and macroeconomic problems confronting President Filipe Nyusi’s government was underlined by an International Monetary Fund (IMF) mission which visited in mid-June. Arguments continue to rage about repayment of the Ematum tuna company’s bonds – seen as confirmation of Mozambique’s market credibility when they were issued in 2013, but since revealed as a major instrument for enriching allies of ex-president Armando Guebuza. IMF managing director Christine Lagarde in May accused the government of “concealing corruption”. The UK, Portugal and other donors have suspended significant amounts of development assistance.

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