The Privinvest Group and its (now deceased) leader Iskandar Safa have been ordered by the London Court to pay 1.9 billion US dollars to Mozambique in the Hidden Debts case. Read more... Reacting to the London court ruling, Borges Nhamire, a researcher at the Center for Public Integrity (CIP), clarified that the sum,...
The Minister of Economy and Finance, Adriano Maleiane, told the Judicial Court of Maputo City today that when he assumed the portfolios of his ministry, only EMATUM's debt was registered in the National Treasury Directorate. During a hearing taking place in BO, Maputo province, Maleiane also informed the Court that no...
Judge Efigénio Baptista refused the request from the Commercial Court in London to hand over official documents to the parties involved in the UK Hidden Debts case. The lawyers of the banks Credit Suisse, VTB and the shipping group Privinvest requested the intervention of Mozambique's Deputy Attorney General, Ângelo Matusse. He submitted a request to the...
The former governor of the Bank of Mozambique (BM), Ernesto Gove, assumed on Tuesday that the financing contracts of the companies receiving the money from the hidden debts, namely Ematum, MAM and Proindicus, contained irregularities, but because it was an urgent matter of state sovereignty, they had to be authorized. The former governor of the WB...
Credit Suisse recently agreed with authorities in the United States of America and the United Kingdom to pay the Mozambican state $475 million for its involvement in the "Hidden Debts" case, but that does not alleviate its dose of guilt. According to a report, the Swiss bank is still embroiled in a pile of...
The supervisory body for Mozambique's public finances is demanding debt relief of around US$2.2 billion, contracted with Credit Suisse. The amount is ten times what the bank is willing to pay. According to the Budget Monitoring Forum (FMO) there are enough factors for the...