CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: PROF. KHALID MUBARAK AL-SHAFI

World / Africa

Mozambique receives Kroll audit into hidden debts

Published: 13 May 2017 - 10:28 am | Last Updated: 01 Nov 2021 - 12:52 pm
File Photo.

File Photo.

Reuters

MAPUTO: The Mozambican Attorney General's office said on Saturday it had received an audit carried out by U.S. firm Kroll into $2 billion in secret loans taken out by state-controlled companies and would release the results to the public as soon as possible.

The discovery of the loans to state-owned fishing company EMATUM, Proindicus and Mozambique Asset Management prompted the International Monetary Fund to halt its support programme and led to the collapse of Mozambique's currency and a debt default.

The audit's release has been delayed several times.