The conclusions drawn by the Mozambican group
of debt holders are good news for Philip Nyusi’s government.
According to them, the audit led by the
consultancy firm Kroll ends up exempting the Government from the state
guarantee given to the loans. From the outset there is a concern of this group
to make a clear separation between them and the investors who put money in loans
to the public companies (around 2 billion dollars as previously mentioned).
With this decision by the Mozambique's debt
securities holders, the Mozambican Government would have a considerable
increase in financial capacity to serve the debt in the amount of $ 850 million
over the next 5 years. The loss would be borne by those who lent the money to
Mozambican companies.
This situation, if it occurs as it is now
expected, will cause great relief in the Mozambican citizens’ economies.
However, the Mozambican justice system must continue investigations and assess
the extent of the loans contracted, therefore find the culprits, so that this occurence
will not recur in the future.
Miguel Verde - Senior Consultant, Professor of
International Relations
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