Mozambique is facing an enormous debt crisis which was triggered by foreign investments, which they couldn't afford and the $2 billion of secret loans from London Banks. Mozambique was involved in a large amount of foreign investment such as: gas fields and various coal and titanium mines. According UNCTAD, most projects failed, they didn’t benefit their citizens, but it influenced economic growth. However, Mozambique did not have financial income to invest in such big projects. It resulted in the total liabilities owned by Mozambique to other countries increased from $14 billion to $34 billion from 2009 to 2013. In 2016, London branches of Credit Suisse and VTB Capital sent $2 billion of secret loans to three state owned companies in Mozambique. The loans were not agreed by the Mozambique parliament, at least $700 million is missing, and a US investigation has alleged that at least $200 million of the loans was spent on bribes and kickbacks to bankers and politicians involved in the deal. Due to this, the IMF suspended it's loans to Mozambique.
