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Mozambique debt talks with VTB almost finalized, cyclone hits growth
Mozambique’s restructuring discussions with Russian lender VTB over a loan to the state-owned Mozambique Asset Management (MAM) are in the final stretch, the International Monetary Fund (IMF) said in its latest country report. The fund also said the devastation from Cyclone Idai which killed more than 1,000 people across Mozambique, Zimbabwe and Malawi in March, had severely hit agricultural production and disrupted transport, slashing growth projections by half for this year.
Mozambique has been battling to recover from a debt crisis after admitting in 2016 to $1.4 billion of previously undisclosed lending, prompting the IMF to cut off support and triggering a currency collapse and debt default. Much of the funds were supposed to be spent on a tuna fishing fleet. VTB had been the lead arranger for a $535 million loan to MAM…
How Natural Disaster Impacts Home Values and Appraisals
Appraisers often find that following a disaster, determining home values can be a challenge. A recent report from Corelogic, takes a look at what factors impact the appraisal process following severe natural disasters, and why homeowners affected by storms and other disasters may seek an appraisal.
When a home is partially damaged, a homeowner may seek an appraisal to help support a diminution in value in order to seek a reduction in property taxes. These “as-is” property value opinions could be hard to quantify because the damage may impact the true market potential of the property…