Mozambican campaigners are calling for debt cancellation after the London branch of Swiss bank Credit Suisse was found to have secretly wired loans in 2013 worth $2 billion to Mozambique without its parliament’s approval.
The loan was ostensibly destined to help fund state-owned tuna fishery and ‘maritime security’ projects. But instead the funds were diverted into bribery and money-laundering schemes. Now, under UK law, Mozambican taxpayers are being ordered to pay a debt they did not formally authorize.
