Mozambique: Germany to disburse 90 million Euros for coastal protection in Beira - AIM report
A group of 26 Mozambique civil society organisations said on Monday $1.86 billion of government debt arranged by Credit Suisse and Russia’s VTB Bank was illegal and should not be paid.
In a joint statement, the organisations said the loans breached a law requiring all borrowing and guarantees longer than a year to be approved by parliament. The debt also exceeded limits in the 2013 budget and were not entered into that year’s budget, the groups said.
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