MOZAMBIQUE: OUT OF COURT SETTLEMENT WITH CREDIT SWISS PUTS AN END TO 'TUNA BOND' SCANDAL

The #amicable #agreement between #mozambiquehere and #CréditSuisse puts an end to the scandal of #TunaBonds, #bonds issued in 2013 to finance #fishing and #maritime surveillance projects which were misappropriated. Under the terms of the agreement, Mozambique undertakes to repay part of the debt linked to the Tuna Bonds, while Credit Suisse agrees to waive part of the debt. This agreement allows Mozambique to restore its reputation and revive its economy, although it still faces other economic and financial challenges. #International #Business #Africa #Channel