Budget Monitoring Forum calls for creditor guarantees to be written-off

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Budget Monitoring Forum calls for creditor guarantees to be written-off

10:45 CAT | 05 Feb 2019

Mozambican Budget Monitoring Forum (FMO), which includes 21 Mozambican civil organisations, said that the cancellation of the state’s ‘hidden debts’ is “more urgent than ever”, according to an analysis published on Friday.

“FMO requires the Ematum, MAM and Proindicus debts to be removed from the national accounts,” the document published in the Savana weekly paper said, adding that “with the latest developments” the “cancellation of these guarantees is more urgent than ever”.

This arose after Mozambique’s former minister of finance Manuel Chang, three former bank employees of Credit Suisse and an intermediary of the naval company Privinvest were detained in different countries on or after 29 December at the request of the US justice.

The prosecution has detailed revelations on the case of the debts guaranteed by the Mozambican state, between 20123 and 2014, in favour of three public fisheries and maritime safety undertakings, concluding that they served for a scheme of corruption and money laundering to enrich several suspects.

This is one of the 11 recommendations of the forum on the general account of the state and its report and opinion of the Administrative Court.

The forum echoed the court’s complaint that the balances of the Treasury account were not provided, which “prevented the state auditor from issuing an opinion on the reliability of the public accounts.”

Source: Lusa