Mozambique: Economy shrank almost 4%% in the first quarter, 6% in Q4 of last year - INE
Government guaranteed loans from Ministry of the Interior and Mozambique Asset Management
4:26 CAT | 27 Apr 2016
O País / Mouzinho Saíde, cabinet spokesperson and deputy minister of Health of Mozambique
After having admitted this month to guaranteeing a loan of US$622 million, which was kept undisclosed at the time of its contraction, related to the Proindicus company, the government of Mozambique yesterday announced a further 2014 guarantee of a loan of US$535 million to Mozambique Asset Management (MAM), an asset management company which operates in naval facilities, of which one is located in Pemba, Cabo Delgado province, and another in Maputo.
The government yesterday also admitted that it had guaranteed a US$221.4 million loan to the Ministry of the Interior between 2009 and 2014.
The value of the government guarantees that had not been disclosed, particularly to the International Monetary Fund (IMF), exceeds one billion US dollars.
Source: O País
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