Cape Town — South Africa's Constitutional Court has blocked an attempt by former Mozambican finance minister Manuel Chang to stop his extradition to the U.S. where he faces charges of grand corruption and the plundering of state resources relating to a U.S.
The financial scandal around Chang resulted after Mozambican state-owned companies illicitly borrowed over U.S.$2 billion between 2013 and 2014 from international banks for shipping fleets that included tuna-fishing and surveillance vessels. The Mozambican government kept information of the loans hidden from the public and parliament, but news of the lost funds arose in 2016 which triggered a sovereign debt default and currency collapse.
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