Jubilee USA: MOZAMBIQUE'S DEBT CRISIS: A TIMELINE

2016:

September 22 - IMF staff visit Mozambique to assess the government's budget and monetary policy.

September 14 - President Nyusi visits Washingon D.C. to meet with the IMF.

August 31 - President Nyusi appoints Rogerio Zandamela, a former senior IMF official, as Mozambique’s new central bank chief.

June 16-24 - IMF staff visit Mozambique to assess recent economic developments.

April 28 - The United Kingdom suspends general budget support for Mozambique.

April 27 - World Bank suspends aid to Mozambique following revelations of hidden loans.

April 15-16 - The IMF announces Mozambique is hiding over $1 billion in debt and suspends loan payments.

2015

December 18 - The IMF announces a $282.9 million loan to Mozambique and releases a first installment of $118 million in funding to help the country address lower commodity prices.

2014

October 24 - Filipe Nyusi is elected as president of Mozambique. Mozambique's public debt totals 8.1 billion dollars, 48.9 percent of GDP.

2013

December 12 - Mozambique's Finance Minister moves $350 million of an $850 million bond issue to the defense budget.

Late September - VTB Capital sells $350 million dollars of Mozambique bonds for a total of $850 million to invest in fishing boats.

September 11 - Credit Suisse and BNP Paribas agree to a $500 million bond sale with Mozambique.

OUR WORK

Mozambique's Debt Crisis: A Timeline