Mozambique

Tenth Sovereign Debt News Update: IMF Fund Disbursement and Monitoring

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Eighth Sovereign Debt News Update: The Re-Incurring and Extinguishing of Sovereign Debt

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Negative Effect of Competence-Competence in Mozambique Fishing Project Dispute: Case Headed to Arbitration

The Privinvest Group, (“Prinvinvest”), an Abu Dhabi, United Arab Emirates based holding company operating in the shipbuilding industry, has obtained a decision in the proceedings against it introduced by Mozambique to be stayed in favor of arbitration. The decision rendered on March 11, 2021 pertains to a jurisdictional dispute brought under Section 9 of Mozambique’s 1996 Arbitration Act relating to the competence of the arbitral tribunal.

Sixth Sovereign Debt News Update: Capital Projects and their Implications for Debt

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

How Public Interest Litigation Led to Invalidation of Illegal Mozambican Debt

The Mozambican case of odious debt is an illustration of several similar cases around the world whereby consultants from multinational corporations identify development countries with something of value, such as minerals, and persuade the authorities of these countries to secretly take on huge development loans with banks. In most cases, the money never reaches the countries. Rather, the money is transferred directly from the banks to contractors and the countries are then left with massive debts. Resources and companies from developing countries are given as collaterals for these loans. Therefore, the resources that countries should use to invest in development are transferred to service these odious debts. In summary, this is what happened in Mozambique.