Mozambique (Vol 13, 2016)
in Africa Yearbook OnlineSearch for other papers by Joseph Hanlon in
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(5,690 words)
The year ended with a New Year ceasefire in the on-going low-key war with the Renamo armed opposition. But more than politics, the year was characterised by dramatic events linking foreign policy with the economy. Revelations that secret loans had totalled more than $ 2 bn was an economic and political bombshell, which also impacted on external relations. The imf cut its programme and donors cut budget support, leading to a foreign exchange crisis. The metical was devalued by 58% and annual inflation was 20.6%. A parliamentary commission declared the debt to be illegal and unconstitutional.
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Mozambique (Vol 13, 2016)
in Africa Yearbook OnlineSearch for other papers by Joseph Hanlon in
Current site
Google Scholar
(5,690 words)