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Kroll’s 57-page report summary declares: “The main challenge in completing the independent audit was the lack of documentation available from the Mozambique companies.Kroll spent a considerable amount of time requesting and liaising with representatives of the Mozambique Companies to obtain documentation and information that was, in some cases, either incomplete or not provided at all.” At the same time, the possibility of an investigation into the unconstitutionality of the process seems to have been circumvented.Moreover, thanks to the mutual interests of the government and international banks, it is increasingly unlikely the full truth will emerge.Along Africa’s south-eastern coast, impunity seems to be the catch of the day.The Jubilee Debt Campaign has also called for further investigations, especially into the role of international banks and their apparent lack of oversight.“The odious debt comes from loans which were given in secret, without approval from Mozambique’s parliament, and with an apparent complete lack of adequate due diligence”, says Tim Jones, a senior policy and campaigns officer at the advocacy organisation.Allegations are especially sensitive ahead of the September party congress at which the party leader is selected.

This was widely seen as a pre-emptive move by the government to exonerate itself from wrongdoing.

Indeed, despite the 0 million that Credit Suisse and VTB earned in arranger and contractor fees, they reportedly failed to disclose to investors that the absence of parliamentary approval rendered the sovereign guarantees unconstitutional and illegal.

Furthermore, the Kroll audit found no evidence that sufficient assessments took place before the signing of the guarantees.

Credit Suisse’s feasibility study was founded on the assumption that Mozambique could sell its tuna for three times as much as the Seychelles.

Some of the exclusive fishing rights included in the project had already been awarded to a South African company.

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