Moody's predicts further losses for Mozambique's creditors - AIM report
The results of the audit of Mozambique Asett Management, tuna company Empresa Moçambicana de Atum and Proindicus carried out by Kroll Associates UK will be published by the end of the month, said the Attorney General of the Republic addressing members of the Mozambican parliament.
The audit report, which focuses on the use made of more than US$2 million in loans contracted abroad with the backing of the Mozambican state, will be delivered on29 April, Beatriz Buchili said.
This audit was demanded by the International Monetary Fund (IMF) and Mozambique’s cooperation partners is intended to establish whether crimes were committed in the process of setting up, financing and running the three companies.
At the end of March, the Attorney General’s Office (PGR) of Mozambique announced that Kroll Associates UK had requested and been granted a second four-week postponement to complete the audit.
The company was hired by the PGR to audit the loans taken on by tuna company Ematum, Proindicus and Mozambique Asset Management (MAM), with a combined value of more than US$2 billion, and initially had a deadline of 90 days, which expired at the end of February.
The PGR said in the statement that after reviewing the reasons given in collaboration with the entity paying for the audit – Sweden – and the International Monetary Fund, it consented to the request and set 28 April 2017 as the new date for submission of the final report.Source: Macauhub