Mozambique - 03

Mozambique: IMF Demands Forensic Audit of Sovereign Debt

The IMF fact-finding mission to Mozambique ended on 24 June with its calling for an independent audit of EMATUM, Mozambique Asset Management (MAM) and ProIndicus’ accounts. The three companies hold around $2.2bn in sovereign debt, much of which was hidden from public oversight and accountability institutions. The IMF mission presented an independent audit as the only way to restore confidence in Mozambican institutions and effectively dismissed ongoing efforts by the attorney general and a parliamentary commission of inquiry as untrustworthy.

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