Mozambique: Hidden Debts 'Should Be Declared Unconstitutional'

Maputo — The Budget Monitoring Forum (FMO), a coalition of Mozambican civil society organizations, on Wednesday submitted a request to the Constitutional Council, the highest body in matters of constitutional law, to declare unconstitutional the inclusion of the country's “hidden debts” in the General State Accounts (CGE).

The debts in question are loans for over two billion US dollars to the security related companies Ematum (Mozambique Tuna Company), Proindicus and MAM (Mozambique Asset Management) obtained from the European banks Credit Suisse and VTB of Russia in 2013 and 2014 that were illicitly guaranteed by the government of the day, under President Armando Guebuza.

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