Manuel Chang will spend eight and a half years in prison for taking about $7 million in bribes and kickbacks in a loan scandal that sent the country’s economy into a crisis.

A U.S. federal judge said Manuel Chang betrayed his country in one of the biggest debt-corruption scandals in Africa.

Mozambique’s former finance minister has been sentenced to serve another two-and-a-half years in prison by a U.S. court for his role in the “ tuna bond ” scandal that triggered a financial crisis in the African nation.

MAPUTO (Reuters) - Mozambique President Daniel Chapo on Friday appointed Carla Louveira as finance minister and Estevão Pale as mineral resources and energy minister.

Finance minister Rachel Reeves has urged Britain's regulators to remove barriers to economic growth, tasking them with creating a regulatory environment that boosts investment and innovation.

A former Mozambique finance minister was sentenced to 8 1/2 years in prison by a US judge for his role in a $2 billion bond fraud that ensnared Credit Suisse Group AG and triggered a financial crisis for the African nation.