Browsing: Andrew Pearse

Economy Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker / Zitamar News
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Mozambique is calling for a British court to rule the guarantee granted by the Ministry of Finance to the offshore security company ProIndicus illegal, the office of the Prosecutor-General (PGR) said on Friday. The country also wants to be compensated, with interest, for all losses it has [...]

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Kroll Report Graça Machel. Image from www.fdc.org.mz
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Graça Machel, a major political figure in Mozambique and widow of Mozambique’s first president Samora Machel, and of Nelson Mandela, has written to Credit Suisse urging it absolve Mozambique of the responsibility to repay the $2 billion in debt that it helped arrange for companies owned by [...]

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Kroll Report The Theodore Roosevelt Federal Courthouse in Brooklyn, New York, where the 'hidden debt' case is being heard. Source: Wikipedia
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  • Next ‘status conference’ on the case to be held in two weeks
  • “Complex case” removes need for a speedy trial
United States prosecutors have more than 10,000 emails dating back to 2011 supporting their case against Jean Boustani of [...]

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Economy The offices of Mozambique's Prosecutor-General, the PGR, in Maputo. Photo © Tom Bowker / Zitamar News
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Mozambique’s Prosecutor-General (PGR) today accused the United States of failing to cooperate with the Mozambican investigation into the $2.2 billion ‘hidden debts’ scandal which it opened in 2015, saying its investigation is in part dependent on help from the US [...]

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Economy EMATUM's fleet in Maputo harbour, March 2018. Photo © Tom Bowker / Zitamar News
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Mozambique is currently in negotiations with the International Monetary Fund for an unfunded staff-monitored programme (SMP) to start at the beginning of 2019, which could lead to the financial support restarting later that year.

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