Browsing: VTB

Hidden Debts dossier A ProIndicus maritime defence vessel in the port of Pemba, northern Mozambique. Photo © Zitamar News
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The full audit by Kroll into Mozambique’s $2 billion hidden debt scandal, intended by Mozambique’s Attorney General to be seen by select figures only at this stage, has been put online by journalist Joseph Hanlon and
Politics & Economy Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker  / Zitamar News
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The decision by the Mozambique Parliament last week to approve the 2015 accounts - which included the $1,157 million in government guarantees for the loans taken out by maritime security companies ProIndicus and MAM in 2013 and 2014 - appears to be the [...]

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Politics An Ocean Eagle surveillance trimaran supplied to Mozambique under the EMATUM or ProIndicus deals. Photo: CMN
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The company conducting an international audit into Mozambique’s three maritime security companies that borrowed $2 billion with sovereign guarantees, has been given another month’s extension to complete its report, originally due at the end of [...]

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Finance Maputo's downtown financial district. Photo © Tom Bowker / Zitamar News
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The Mozambican authorities are working with the International Monetary Fund (IMF) to find a way to stem a series of sovereign defaults which could cause a crisis in the domestic banking system if the next debt payment is missed in March, Zitamar [...]

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