Friday, 7 October 2016

More guns, more secret debts

Revelations about more hidden loans will reinforce demands for a comprehensive investigation of state finances
With the world's fastest falling currency and one of its most damaging debt burdens, Mozambique faces a still harsher regime of economic austerity as claims of another US$900 million of secret security loans emerge, this time for companies owned by the Frente de Libertação de Moçambique (Frelimo) elite to broker arms deals for the state. Top Frelimo officials face mounting pressure to explain why government hid its multi-billion borrowing programme and to unveil the beneficiaries of these deals.
( Africa Confidential )

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