Mozambique: Two billion dollars disappeared. IMF asks for clarification

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Prosecutors said they did not know “exactly” where the funds went. Five hundred million were not even audited for lack of “satisfactory” documentation.

The International Monetary Fund said today it wants to clarify the fate of billions of dollars in hidden dues from the Mozambican government whose fate remains surrounded by mystery.

This after the Attorney General’s Office revealed that the audit did not clarify the exact destination of 2,000 million dollars taken by three state-owned enterprises between 2013 and 2014.

Another $ 500 million was not even audited because of “inconsistencies” and lack of “satisfactory” documentation.

The IMF said it would send a delegation to Mozambique to clarify this issue and also to “reassess the macroeconomic situation and discuss the priorities of the authorities regarding the 2018 budget.”

In a statement the organization said that the “summary” of the report contains “useful information on how loans were borrowed and assets acquired by companies.”

“However, information gaps persist, particularly with regard to the use of loan funds,” said the IMF, who revealed that the delegation will visit Mozambique between July 10 and 19 to discuss the results of the audit with the authorities and “possible Follow-up measures “including reassessing the” macroeconomic situation and discussing the authorities’ priorities for the 2018 budget “.

“Gaps remain in the understanding on how exactly the $ 2 billion was spent, despite considerable efforts” to clarify the matter, the prosecutor’s office said.

“Until the inconsistencies are resolved and satisfactory documentation is provided at least $ 500 million of potentially sensitive expenditures remain to be audited and unexplained,” said the summary of the company’s Kroll report.

Source: VOA

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