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Mozambique tuna bonds fiasco: Difference between revisions
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When the Mozambique government found out what had been going on, in 2016, it assumed the debt admitted the full scale of the borrowing. This triggered an economic meltdown during which Mozambique’s currency lost a third of its value. | When the Mozambique government found out what had been going on, in 2016, it assumed the debt admitted the full scale of the borrowing. This triggered an economic meltdown during which Mozambique’s currency lost a third of its value. | ||
Three ''former'' Credit Suisse bankers copped to US money laundering charges. Credit Suisse was fined nearly £350m by global regulators, itself copped to wire fraud charges, and agreed to forgive hundreds of millions of dollars worth of debt owed by Mozambique in an attempt to draw a line under the long-running “tuna bonds” loan scandal. | Three ''former'' [[Credit Suisse]] bankers copped to US money laundering charges. Credit Suisse was fined nearly £350m by global regulators, itself copped to wire fraud charges, and agreed to forgive hundreds of millions of dollars worth of debt owed by Mozambique in an attempt to draw a line under the long-running “tuna bonds” loan scandal. | ||
Like a pound shop 1MDB, really. | Like a pound-shop [[1MDB]], really. | ||
{{sa}} | {{sa}} | ||
*[[Credit Suisse]] | *[[Credit Suisse]] | ||
*[[Roll of honour]] | *[[Roll of honour]] | ||