With crucial details about the $2 billion loans still secret, the people are paying the price for decisions made by elites and international banks. Mozambique’s economy continues to reel from a huge debt scandal involving political elites, international banks and, still, a great deal of unknowns. Growth has stagnated while inflation soars. Campaigners are calling for proper investigations into what they it see as high-level corruption. And this Monday, the Finance Ministry announced that the country will default on yet another Eurobond repayment. There may be some hope around the visit of the International Monetary Fund (IMF) to discuss the results …
