March 13, 2019 / 5:20 PM / 6 days ago

Mozambique seeks cancellation of government guarantees on Proindicus debt in London court - PM

JOHANNESBURG, March 13 (Reuters) - Mozambique’s case against Credit Suisse and others in London’s High Court relates to the cancellation of sovereign guarantees on the debt of state-owned security company Proindicus, its prime minister said in parliament on Wednesday.

Prime Minister Carlos Agostinho da Rosario was quoted as making the statement by state news agency AIM. The debt in question forms part of $2 billion in loans to state-run firms that caused a debt crisis in Mozambique.

Reporting by Emma Rumney; Editing by Angus MacSwan

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