Emerging market debt: A trawl for yield - FT.com:
"The eight sleek, military grey patrol boats sitting on the concrete of Maputo port would not look out of place in a James Bond movie. Their mission? To protect Mozambique’s new fleet of tuna fishing boats from Indian Ocean pirates.
But the vessels, which have been largely idle, are now the focus of a multimillion-dollar international controversy. It is a dispute that has severely strained the coffers of the cash-strapped government, rattled donors that fund one quarter of the state’s budget and forced Mozambique to seek a restructuring of the debt used to buy the boats."
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