Mozambique Deal Haunts Resurgent Credit Suisse

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Credit Suisse faces rising pressure to forgive loans made to Mozambique as the bank works to rehabilitate its international image

Credit Suisse Group AG’s recent shareholder meeting took an awkward turn when a Mozambican activist questioned Chairman Urs Rohner over the bank’s role in fraudulent deals that saddled her country with $2 billion of debt.

The confrontation halfway through Friday’s meeting was the latest example of the rising international pressure on Credit Suisse to forgive loans it made to Mozambican state-owned companies engaged in an alleged complex fraud, and potentially, to pay damages to victims.

 

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