Good afternoon, on the eve of the trial of the century, for us Mozambique-watchers at least. The scandal that became known in Mozambique as the ‘hidden debts’, and for much of the rest of the world as the ‘tuna bond’ affair, will finally have its day in court in London, starting on Monday.
Unless, that is, it suffers another delay due to last-minute attempts by UBS, the Swiss bank which recently bought Credit Suisse, to reach an out of court settlement with Mozambique. Bloomberg reports today that “Mozambique’s attorney general may announce the settlement as soon as next week”; but the trial is, as we said, due to start on Monday.
