Arab Today, arab today mozambique civil society calls for debt disclosure
Last Updated : GMT 23:32:33
Arab Today, arab today
Arab Today, arab today

Mozambique civil society calls for debt disclosure

Arab Today, arab today

Arab Today, arab today Mozambique civil society calls for debt disclosure

Hidden debts
Maputo - XINHUA

 Mozambique's civil society organizations have demanded the government publish all information about the country's public debt amid worries over the alarming public debt to GDP ratio of 73.4 percent after revelation of over 1 billion U.S dollars hidden debts last week.

The Budget Monitoring Forum (FMO), a coalition that contains some of Mozambique's most credible civil society organizations, asked for an exhaustive audit of the Mozambican public debt "in order to know the real amounts involved, the creditors and the payment period for each of the debts."

It urged in a statement the government to explain publicly its strategy for paying the debt "and announce measures to hold responsible the authors of the present crisis."

The statement comes after the Mozambican government admitted the existence of public debts of over 1 billion U.S. dollars to the International Monetary Fund (IMF) and the World Bank, by the country's Prime Minister Carlos Agostinho do Rosario, who flew to Washington on Tuesday, in the wake of the IMF cancelling a mission to Maputo originally planned for this week.

The IMF announced last week at a Washington press conference that the IMF had received confirmation from the authorities of the existence of a large amount of borrowing that had not previously been disclosed to the IMF.

The institution also suspended the second loan installment worth 283 million U.S. dollars to Mozambique from the Fund's Standby Credit Facility, immediately after the cancellation of the mission's visit to Mozambique.

According to Mozambican Finance Minister Adriano Maleiane, the banks Credit Suisse and VTB of Russia, lent 622 million U.S. dollars to the state company Pro-Indicus for the purchase of ships and radar systems for maritime defence.

A second loan handled by the same banks for 500 million U.S. dollars remains unclear: it is said to be connected to the Pemba Logistical Base, under construction in northern Mozambique to service the requirements of the nascent oil and gas industry, said in a report from the country's state news agency AIM.

The statement from FMO indicated that Mozambique's public debt reached 73.4 percent of GDP, instead of the 49 percent calculated prior to the latest revelations.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mozambique civil society calls for debt disclosure Arab Today, arab today mozambique civil society calls for debt disclosure

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mozambique civil society calls for debt disclosure Arab Today, arab today mozambique civil society calls for debt disclosure

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday