IMF calls for disclosure of conclusions of report on Mozambique’s debt

16 May 2017

The International Monetary Fund (IMF) expects the Mozambican Attorney General’s Office to publish a summary of the international audit report on hidden debts by the end of the month, the Mozambican representative said in a statement recently issued in Maputo.

Ari Aisen said in the statement that the IMF expects the Attorney General’s Office to release the full report on loans taken out by three public companies with the endorsement of the Mozambican state.

The Swedish Embassy also issued a statement welcoming the delivery of the audit report by Kroll Associates UK to the Attorney General’s Office, which took place last Friday.

Sweden paid for the report, which is a condition for the IMF to resume funding to Mozambique.

The Embassy added it was waiting for the report to be published as soon as possible.

Kroll Associates UK was hired by the Attorney General’s Office in November 2016 to investigate “the existence of criminal offences, among others, in the process of founding, financing and operation of Proindicus, Empresa Moçambican de Atum and Mozambique Asset Management.”

The crux of the matter is more than US$2 billion in loans taken on from foreign banks between 2013 and 2014 by the three state-owned companies with government guarantees that were not approved in parliament and were only recorded in public accounts this year. (macauhub)