MOZAMBIQUE: Another devastating attack disrupts LNG development
Since 24 March, Palma, the northern town closest to Mozambique’s landmark Afungi LNG development, has been under attack by insurgents. As a result, Total has been forced to again suspend work on its USD 20bn LNG development project, just days after announcing a resumption of oper… Become a member to read the rest of […]
MOZAMBIQUE: Dramatic escalation of security threat to LNG ventures
Total evacuated most of its personnel from Palma and the Afungi peninsula last week, ahead of insurgent attacks on the doorstep of its LNG site on 1 January. Total’s unprecedented measure and extensive insurgency-related disruption to transport along mainland and maritime ro… Become a member to read the rest of this article
MOZAMBIQUE: IMF emergency aid promises slight relief amid troubled outlook
On Friday, 24 April, the board of the International Monetary Fund (IMF) approved a disbursement of USD 309mn under the Rapid Credit Facility (RCF) to support Mozambique’s “urgent balance of payment and fiscal needs stemming from the COVID-19 pandemic.” Together with the G20 debt … Become a member to read the rest of this article
MOZAMBIQUE: IMF funding expedited, LNG delays worsening
● Financial support from the International Monetary Fund (IMF) is being expedited, albeit under emergency facilities rather than a full program. ● However, the LNG outlook is turning from bad to disastrous amid speculation that ExxonMobil could postpone bringing its Rovuma LNG p… Become a member to read the rest of this article
MOZAMBIQUE: More than one emergency
In a late-night session on 31 March, the National Assembly approved President Filipe Nyusi’s state of emergency declaration, which applies from 1 to 30 April, in response to the Covid-19 pandemic. However, Mozambique now faces multiple emergencies: not only the pandemic itself bu… Become a member to read the rest of this article
MOZAMBIQUE: What to expect from Nyusi’s second term
● Familiar cabinet line-up suggests President Filipe Nyusi’s second term will look much like the first. However, the backdrop differs for these reasons: ● While Nyusi’s first term was characterized by a corruption-induced financial crisis, the economy and the mega-LNG projects… Become a member to read the rest of this article