Mozambique’s New Finance Chief Faces Debt Headache From Day One
- Post-election unrest cost state $664 million in foregone tax
- Country faces a $1.7 billion debt-servicing bill this year
Police officers look on as protesters gather in Maputo on Jan. 15.
Photographer: Amilton Neves/AFP/Getty ImagesThis article is for subscribers only.
Carla Louveira, Mozambique’s new finance minister, takes over a treasury sapped by months of unrest and is already having to contend with a potential debt restructuring and a wage strike by government employees.
Even before months of post-election turmoil left at least 314 people dead and slammed the brakes on the southeast African nation’s economy, the government was struggling to meet its obligations. Now, a new administration that was sworn in last week has to pick up the pieces and steady the state’s finances.