Since December 2018, Mr. Chang has been incarcerated in South Africa.
When Mozambique guaranteed more than $2 billion (£1.5 billion) in covert borrowing by state-owned companies, he was in control of the nation’s finances.
The economic system collapsed as a result of the biggest corruption scandal in the nation.
The incident is known as the “tuna bond” scandal because it is claimed that the funds were used, among other things, to purchase a sizable tuna plant.
11 persons were found guilty of money laundering and embezzlement as part of the same scam last year, including the son of the former president of Mozambique.
Mr. Chang disputes any misconduct.
The FBI, according to the BBC, will accompany Mr. Chang when he travels from Johannesburg’s Lanseria Airport to New York City later on Monday.
The former finance minister authorized a number of these loans between 2005 and 2015, some of which were not disclosed.The US charged Mr. Chang with a crime and claimed that he was responsible for the theft of money given by US investors.
Three recently formed businesses borrowed $2.2 billion in 2013 and 2014, most of it without the consent or knowledge of the nation’s legislature. Despite this, the Mozambican government acted as a guarantee of the loans, which meant that if anything went wrong, the state would pay back the money.
The funds were allegedly used to fund other transactions involving businesses in which the state had a significant stake, as well as the acquisition of a sizable tuna plant and a maritime surveillance fleet.
In 2016, the government exchanged some of the debt for a state-issued, conventional bond. It quickly acknowledged the entire extent of the borrowing, which led to an economic disaster in Mozambique.
Foreign donations increased, inflation soared, and the value of the national currency dropped by one-third.
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