Maputo, 5 Feb (AIM) – Mozambican Prime Minister Adriano Maleiane believes that the government’s out-of-court settlement with Credit Suisse, whereby it paid 143 million dollars to the bank, was the best solution to put an end to the country’s obligations.
Credit Suisse is at the heart of the “Hidden debts” scandal- a term referring to the illicit loans of over two billion US dollars made by Credit Suisse and VTB of Russia in 2013 and 2014 to three fraudulent Mozambican companies (Proindicus, Ematum, and MAM) which were all effectively run by the security service, SISE.
In theory, the loans were for, amongst other things, a tuna fishing fleet, shipyards and maritime security. But none of these ventures ever took off and the companies soon became bankrupt.
Maleiane, who was speaking to reporters in Maputo, on the sidelines of the ceremony marking Mozambican Heroes’ Day, denies that the government is violating the Constitutional Council’s decision to cancel the hidden debt loans, explaining that “the cancellation of Mozambique’s obligations is not automatic.”
According to the Prime Minister, there was no other way but to negotiate with Credit Suisse.
Maleiane also said that he is not aware of any plans by South Africa to stop buying electricity from Hidroelectrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam on the Zambezi River, in the western Mozambican province of Tete.
(AIM)
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