The US authorities have fined the two foreign banks in the tuna bond scam. Now Maputo’s politicians are in the frame in court
Five years after Mozambique’s economy sank into a quagmire of bad debt, Credit Suisse faces at least US$747 million of penalties for its part in the country’s $2 billion hidden loans scandal. Critics say the punishment is too light, but the fallout from the so-called ‘tuna bonds’ is far from over for the Swiss bank – and for Mozambique’s President, Filipe Nyusi, and others in the political elite.
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