VTB Halts Mozambique Sovereign Debt Plan After Clashes
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Rebel clashes with government forces in Mozambique have prompted VTB Group, Russia’s second-largest bank, to halt a proposed sovereign debt transaction in the country.
Rebels tied to the opposition Mozambique National Resistance party, known as Renamo, said they killed 36 soldiers in a clash earlier this month, a claim refuted by the government, which said only two people died. Renamo, which fought a 15-year civil war against the ruling Frelimo party until 1992, this year attacked arms depots and buses, killing several people, in central Mozambique, forcing the closure of rail lines used by coal mines owned by Rio Tinto Plc.