Reuters with yet more on the Mozambique mystery loans --
VTB Chief Executive Andrei Kostin told Reuters in an interview. Mozambique Asset Management (MAM) borrowed $535 million from VTB to build shipyards in Maputo and the northern town of Pemba in expectation of a rapid takeoff in the offshore gas sector. ... Kostin said he saw the African continent in general as a "high risk zone" but one where operations should continue. "Investors invested in Greece and look how they got burned - but Mozambique is way better than Greece," he said.
VTB Chief Executive Andrei Kostin told Reuters in an interview. Mozambique Asset Management (MAM) borrowed $535 million from VTB to build shipyards in Maputo and the northern town of Pemba in expectation of a rapid takeoff in the offshore gas sector. ... Kostin said he saw the African continent in general as a "high risk zone" but one where operations should continue. "Investors invested in Greece and look how they got burned - but Mozambique is way better than Greece," he said.
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