Mozambique is crucial partner for gas production and energy transition
Mozambique: ‘Political unwillingness’ to investigate debts – EXX Africa
12:36 CAT | 29 Nov 2018
File photo: EXX AFRICA / Facebook
Risk consultant EXX Africa said on Wednesday there was a “political unwillingness in Mozambique and among donor countries” to thoroughly investigate the main beneficiaries of the state’s hidden debt scandal.
In a report sent to investors, the consultants wrote that Mozambique’s oil company is looking for solutions to raise $2 billion to fund its participation in the consortium led by ENI and has the help of the French bank Société Générale to fund the investment in the Anadarko block.
“International banks and financial institutions are increasingly eager to move forward, moving away from the hidden debt scandal, and invest in the lucrative natural gas sector to ensure future revenues,” the analysts said.
“There is no immediate hope for a sustained economic recovery until there is a resolution for the hidden debt scandal,” they said.
“Mozambique’s economy continues to struggle due to an increase in food prices, fewer grants and the frequent collapse of small businesses,” the document said, which concludes that “on the eve of the 2019 elections, the government will need to make changes in the economy to avoid the degradation of public services.”
Source: Lusa
Show comments
Also read
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.