IMF is waiting for publication of full version of audit report on Mozambican loans

15 September 2017

The release of the full version of the audit report on loans taken out by state-owned enterprises in Mozambique is key to the negotiation of a new technical and financial aid programme, said an International Monetary Fund (IMF) spokesman in Washington on Thursday.


“The summary of the report (prepared by Kroll Associates UK) has been made public and we are now waiting for the official publication of the full version, as well as the disclosure by the Mozambican authorities of missing information, in particular as regards the fate of loans,” said Gerry Rice.


The IMF Communications Department spokesman and director said that requests for information as well as measures to ensure transparency and accountability are critical steps in negotiating a new aid programme.


The mission of the International Monetary Fund that visited Mozambique last July ended without announcing when it would resume financial support to the country.


At the time, the IMF once again asked the government to clarify where most of the US$2 billion from three loans was used. Two of the loans were taken on in 2013 and 2014 under the presidency of Armando Guebuza and were only disclosed when they were discovered by the new government.


Kroll Associates UK said in the summary of the report that much of the information needed to complete the task had been refused on the grounds that it affected State security.


The full version of the report has already been submitted to the Office of the Attorney General of the Republic of Mozambique, which in turn has sent copies to some embassies, including Sweden’s, which paid for the report, but it has not been officially released. (macauhub)