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4. Use the Fitch long-term foreign currency ratings below for Mozambique to answer the questions that follow -10 marks July 15, 2003 First rating for
4. Use the Fitch long-term foreign currency ratings below for Mozambique to answer the questions that follow -10 marks July 15, 2003 First rating for Mozambique July 5, 2013 B+ October 15, 2015 April 29, 2016 CCC May 23, 2016 November 30, 2016 RD - Restricted Default a.) In 2003, the Mozal Aluminum smelter project doubled the size of Mozambique's GDP from about $1.4 billion to $2.8 billion after a long civil war and rescheduling of external debts. At that time, GDP per person was less than $40 per month. But the Mozambique glass was, half-full, with promise and diversified economic activities. What happened that caused the ratings to move so violently. b.) Now what? At the start of last week, the Financial Times suggested a way forward for Mozambique - this is the FT article included in the Mozambique PowerPoint presentation. As discussed in the article and, generally, in class, how is it that Mozambique, economically and financially, may be able to go forward - if one assumes good government and execution skills in terms of harvesting cash flows? Think about the economic activities that go on, or might go on, in Mozambique. Would you go to Mozambique? 4. Use the Fitch long-term foreign currency ratings below for Mozambique to answer the questions that follow -10 marks July 15, 2003 First rating for Mozambique July 5, 2013 B+ October 15, 2015 April 29, 2016 CCC May 23, 2016 November 30, 2016 RD - Restricted Default a.) In 2003, the Mozal Aluminum smelter project doubled the size of Mozambique's GDP from about $1.4 billion to $2.8 billion after a long civil war and rescheduling of external debts. At that time, GDP per person was less than $40 per month. But the Mozambique glass was, half-full, with promise and diversified economic activities. What happened that caused the ratings to move so violently. b.) Now what? At the start of last week, the Financial Times suggested a way forward for Mozambique - this is the FT article included in the Mozambique PowerPoint presentation. As discussed in the article and, generally, in class, how is it that Mozambique, economically and financially, may be able to go forward - if one assumes good government and execution skills in terms of harvesting cash flows? Think about the economic activities that go on, or might go on, in Mozambique. Would you go to Mozambique
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