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Mozambique Debt Threatens Its Once-promising Economy

Mozambique’s economy appears to be in crisis as the nation prepares to default on massive loans taken out without parliament’s knowledge or approval during the past presidential administration. It’s a striking setback for a nation once hailed for its promising natural gas deposits and peaceful recent elections. Now, with $1.4 billion in loans hanging over the government’s head, money it simply cannot afford to pay back when the loans come due in coming months, the situation has...

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