{"id":8040,"date":"2021-05-27T11:30:43","date_gmt":"2021-05-27T09:30:43","guid":{"rendered":"https:\/\/www.cipmoz.org\/?p=8040"},"modified":"2021-05-27T11:30:43","modified_gmt":"2021-05-27T09:30:43","slug":"costs-and-consequences-of-the-hidden-debt-scandal-of-mozambique","status":"publish","type":"post","link":"https:\/\/www.cipmoz.org\/pt\/2021\/05\/27\/costs-and-consequences-of-the-hidden-debt-scandal-of-mozambique\/","title":{"rendered":"COSTS AND CONSEQUENCES OF THE HIDDEN DEBT SCANDAL OF MOZAMBIQUE"},"content":{"rendered":"<div class=\"page\" title=\"Page 6\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"text-align: justify;\">In 2013, bankers in Europe, businesspeople based in the Middle East, and senior politicians and public servants in Mozambique conspired to organise a USD 2 billion loan to Mozambique \u2013 an incredible 12% of GDP of one of the poorest countries in the world. The loan was kept hidden. None of the borrowed money, except bribes, went to Mozambique, and there were no services or products of benefit to the Mozambican people.<\/p>\n<p style=\"text-align: justify;\">The knock-on effects of such a huge corruption scandal may already have cost Mozambique at least USD 11 billion \u2013 nearly the country\u2019s entire 2016 GDP \u2013 and almost 2 million people have been pushed into poverty. If Mozambique is forced to service this debt, there is USD 4 billion more to pay, on top of future damaging impacts.<\/p>\n<p style=\"text-align: justify;\">This report is an inventory of the huge costs and consequences of the hidden debt scandal \u2013 measuring them in numbers where possible and tracing the chain of harmful events and tendencies resulting from it. The impacts were economic (direct costs and damages), social (reducing welfare), and institutional (worsening politico-institutional environment).<\/p>\n<p><a href=\"https:\/\/www.cipmoz.org\/wp-content\/uploads\/2021\/05\/Costs-and-consequences-of-the-Hidden-Debt.pdf\" target=\"_blank\" rel=\"noopener\">Read the full repport<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In 2013, bankers in Europe, businesspeople based in the Middle East, and senior politicians and public servants in Mozambique conspired to organise a USD 2 billion loan to Mozambique \u2013 an incredible 12% of GDP of one of the poorest countries in the world. The loan was kept hidden. None of the borrowed money, except<\/p>\n","protected":false},"author":18,"featured_media":13909,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_rtcl_gb_attr":"","footnotes":""},"categories":[54],"tags":[],"coauthors":[64],"class_list":["post-8040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dividas-ocultas"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>COSTS AND CONSEQUENCES OF THE HIDDEN DEBT SCANDAL OF MOZAMBIQUE - CIP - Centro de Integridade P\u00fablica<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cipmoz.org\/pt\/2021\/05\/27\/costs-and-consequences-of-the-hidden-debt-scandal-of-mozambique\/\" \/>\n<meta property=\"og:locale\" content=\"pt_PT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COSTS AND CONSEQUENCES OF THE HIDDEN DEBT SCANDAL OF MOZAMBIQUE - CIP - Centro de Integridade P\u00fablica\" \/>\n<meta property=\"og:description\" content=\"In 2013, bankers in Europe, businesspeople based in the Middle East, and senior politicians and public servants in Mozambique conspired to organise a USD 2 billion loan to Mozambique \u2013 an incredible 12% of GDP of one of the poorest countries in the world. 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