Fuel crisis exposes deeper financial fault lines

Fuel crisis exposes deeper financial fault lines

Good afternoon. The fuel shortages this week in Maputo and other cities may look like an inevitable symptom of the global energy supply shock caused by the US and Israeli attacks on Iran. But Mozambique's crisis is not quite what it seems. Beneath the surface, it is exposing a more fundamental constraint in the country’s economy.At the heart of the crisis is a foreign exchange squeeze that is now biting into essential imports. Fuel distributors …