Mozambique's ex-president Guebuza to testify in debt scandal
-
Turkish Energy Minister Highlights Qatar as Key Partner for Regional and Global Energy Security
-
Rene Eyre Revisits Autobiographical Performance 'Say A Little Prayer' in London
-
London Museum Granted 24/7 License Ahead of November Opening
-
UAE's HCT Holds Record Graduation and Announces Major Training Expansion
-
Dana White Confirms Flight to Washington for Trump Meeting on Press Secretary Role
-
NASA Awards $10B Lunar Contract Framework to SpaceX, Blue Origin
-
Dengue Fever Expands Into High Himalayas as Climate Change Warms Nepal
-
Katy Perry Tells Fans Ex-Husband Russell Brand 'Should Be in Jail' During UK Concert
-
IoT Refrigerator Hacks Disrupt Blood Labs and Supermarkets Across Europe and US
-
South African election results renew debate over identity-based voting
-
Post-election pressures complicate US and Israeli decisions on Iran
-
South African voters report smoother local election but declining IEC trust
-
UN members approve talks on treaty protocol against environmental crime
-
Dolly Parton museum and Nashville hotel open after singer’s death
-
Family-run West Sussex beach café prepares for first winter season
-
George and Amal Clooney attend New York political-comedy reading
-
CT scans reveal health and burial clues from Egypt’s Braided Lady mummy
-
British buyers pay substantial premiums for period-home appearance
-
Oxford faces complaints over lecturer’s classroom attire
-
Thomas Markle released to house arrest after child-abuse-image charge
-
Kyren Wilson and John Higgins reach International Championship snooker final
-
Dawn of War 4 developers chose Adeptus Mechanicus for tactical variety
-
New Zealand and Tonga meet for place in Rugby League World Cup final
-
Italy face unbeaten South Africa in Turin Nations Championship match
-
Reports of unsafe AI-toy responses renew calls for child-safety rules
-
ChatGPT interactive interface feature tested across six custom tools
Mozambique's ex-president Guebuza to testify in debt scandal
Ex-president Armando Guebuza was on Thursday expected to testify in Mozambique's biggest corruption scandal, an affair concerning secret loans contracted under his tenure that triggered an economic crisis.
The country, ranked among the poorest in the world, illicitly borrowed $2 billion (1.76 billion euros) in 2013 and 2014 from international banks to buy a tuna-fishing fleet and surveillance vessels.
The government masked the loans from the country's parliament.
However, the "hidden debt" finally surfaced in 2016, prompting donors including the International Monetary Fund (IMF) cut off financial support.
An independent audit later found $500 million had been diverted and remains unaccounted for.
The 79-year-old former leader, who will be the most high-ranking witness in the scandal, was president between 2005 and 2015.
His eldest son Ndambi is among 19 high-profile defendants facing trial over alleged links to the case. He was arrested in February 2019 and has been in detention since then.
Last year Ndambi denied charges he took bribes to persuade his father to approve the maritime deal and facilitate the secret loan.
When the debt scandal surfaced, the IMF and other donors cut off financial support, triggering sovereign debt default and currency collapse.
The trial is being held at a special court set up at a high security prison in the capital Maputo.
Finance Minister Adriano Maleiane last week told the court that his predecessor had covered up the debts.
C.Cassis--PC
