Mozambique: Secret Loans: What Happens Now?

analysis

Like a naughty schoolboy caught smoking in the bike shed who is then summoned to the school principal's office, Prime Minister Carlos Agostinho do Rosario flew to Washington to appear before IMF Managing Director Christine Lagarde. Apparently he confessed to her that at least $1.35 billion in loans were taken out in secret without telling parliament or donors - or, most importantly, the IMF.

At least $2.2 bn - equivalent to all government spending for five months - has  been squandered in secret on boats of dubious necessity and, it is widely assumed, on corrupt payments. So, what happens now?

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.