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File photo: AIM
Mozambique’s President Filipe Nyusi on Thursday dismissed the Deputy Minister of Economy and Finance, Maria Isaltina Lucas.
She is one of seventeen suspects named by the Mozambican Attorney-General’s Office in January in connection with the “hidden debts” scandal where loans of over two billion US dollars were obtained by the companies Proindicus, Ematum (Mozambique Tuna Company) and MAM (Mozambique Asset Management) from the European banks Credit Suisse and VTB of Russia in 2013 and 2014.
The loans were only possible because they were guaranteed by the government, in violation of the Constitution and of the 2013 and 2014 budget laws. All three companies are effectively bankrupt, and so the Mozambican state has become liable for repaying the loans.
At the time that the guarantees were made, Lucas was the head of the Treasury Department in the Ministry of Finance which gave the go-ahead for the guarantees. She is currently a director of the Ematum.Source: AIM
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