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Ex-finance minister may face charges in Mozambique over $2B debt scandal

Mozambique's former Finance Minister Manuel Chang has stepped down as a lawmaker, a move that means he could now face charges in the country's courts over his role in a $2 billion hidden loans scandal, Bloomberg News reported.

Mozambique borrowed the money from international investors in 2013, when Chang was finance minister, to finance maritime projects. The country defaulted on the debt repayments, and auditors later found that $500 million was missing.

Chang is in custody in South Africa. He is also wanted in the U.S. on charges of money laundering and fraud and has said he would fight extradition to the U.S. but does not oppose being sent to Mozambique to face charges.